SoftBank sold stake in PB Fintech, know which veteran investors bought shares!

PB Fintech Share Price: Japan’s SoftBank sold its 5.1 per cent stake in Policybazaar ie PB Fintech in Friday’s trading session. SoftBank has sold 5 percent of its total stake through a block deal at a price of Rs 456.4 in an open market transaction.

According to the block deal data available on the National Stock Exchange, SoftBank has received a total of Rs 1042.52 crore for selling 5.1 per cent stake. SoftBank had a 10 percent stake in Policybazaar, which is now only 4.9 percent. But the names of the companies that bought Policybazaar’s stake from Softbank have also come to the fore. Societe Generale, Goldman Sachs, Morgan Stanley and Max Life Insurance have bought these shares in a block deal.

Societe Generale has bought 2.6 million shares of PB Fintech, while Morgan Stanley has bought 27.3 shares from SoftBank at a price of Rs 456.4 per share. On Monday, the share of PB Fitnec closed at Rs 477.40, down 1.16 per cent.

Let us tell you that the IPO of PB Fintech came in 2021, the listing of the stock was done in November. Since the listing, there has been a continuous decline in the shares of PB Fintech. Due to which the investors investing in IPO are facing huge loss on their investment. The company had brought IPO at a price of Rs 980 per share. But now the stock is trading with a decline of 51 per cent from its issue price.

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The lock-in period is over for the companies that had bought shares of PB Fintech in the pre-IPO period. Since then the stock has seen tremendous pressure. The share of PB Fintech had fallen to Rs 356.20. Whereas after listing the stock made a high of Rs 1224. That is, the stock is trading 61 percent below its high.

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