According to reports, SoftBank intends to sell 5% of its ownership in PB Fintech, the parent company of Policybazaar, in a block transaction on Friday (December 2). The share sale would be worth INR 1,000 crore, according to CNBC-TV18. The price of the deal would be 4.6% less than PB Fintech’s most recent BSE closing price of INR 461.55. The base price of the transaction, according to the report, would be INR 440 per share, with Citi serving as the deal’s broker. Last month, $200 million worth of Paytm shares were sold by SoftBank, a significant investor in Indian startups.
SoftBank to sell 5% of its stake in Policybazaar’s parent company, PB Fintech
