PB Fintech co-founders pare nearly 1 pc stake for Rs 665 cr

New Delhi, May 30 (PTI) Two co-founders of PB Fintech, which owns digital insurance platform Policybazaar, have offloaded nearly 1 per cent stake in the company for around Rs 665 crore, according to market data.

Goldman Sachs, Societe Generale and Morgan Stanley are among the global financial institutions that collectively acquired 38 lakh equity shares, or nearly 1 per cent of the equity, in PB Fintech through open-market transactions, exchange data showed.

Other foreign investors participating in the transaction included Ghisallo Capital Management, Metzler Asset Management (part of Bankhaus Metzler, Germany’s oldest private bank), Matthews International Capital Management, Wasatch Global Investors, BNP Paribas and Hong Kong-based Viridian Asset Management.

Among domestic institutional investors, Tata Mutual Fund, Kotak Securities and National Pension System (NPS) Trust purchased shares in the transaction, according to block deal data on the National Stock Exchange (NSE) executed on Friday.

These investors bought a total of 38 lakh equity shares, representing a 0.82 per cent stake in PB Fintech, at an average price of Rs 1,751 apiece.

The aggregate transaction value stood at Rs 665.38 crore.

Meanwhile, Dahiya and Bansal offloaded the same number of shares. Following the transaction, their combined shareholding in the fintech company declined to 4.2 per cent from 5.02 per cent.

Shares of PB Fintech fell 3.85 per cent to close at Rs 1,716 apiece on the NSE on Friday.

Earlier this month, PB Fintech reported a 54 per cent jump in its net profit to Rs 261 crore for the March quarter of 2025-26.

The company had a profit after tax of Rs 170 crore in the January-March quarter of 2024-25, PB Fintech said. Its total revenue during the fourth quarter of FY26 rose 37 per cent year-on-year to Rs 2,061 crore, it added.

The latest stake sale is part of a series of share disposals in recent years.

In June 2025, Yashish Dahiya and Alok Bansal together sold a little over 1 per cent stake in the company for Rs 920 crore. Prior to that, the co-founders had divested a 1.8 per cent stake for Rs 1,109 crore in May 2024.

In June 2022, Dahiya sold nearly 38 lakh shares for Rs 230 crore, while Bansal divested more than 28 lakh shares in February for Rs 236 crore.

PB Fintech had launched its Rs 5,710-crore initial public offering in November 2021, during which the co-founders and several other shareholders had reduced their holdings. PTI HG MR