According to BSE block deals data, Claymore Investments (Mauritius), a Temasek entity, sold 2.44 crore shares of PB Fintech at Rs 992.8 per share, valuing the transaction at Rs 2,425 crores. The US-based Capital Group acquired the complete stake across various funds. Shares of PB Fintech, which rallied 42% in the last three months, ended marginally lower at Rs 997.80 on Thursday.
In 2015, Temasek had invested Rs 134 crore in Policybazaar-parent through a secondary stake buying shares in the insurtech company from its earliest investor Info Edge India Ltd.
PB Fintech posted its maiden quarterly profit for the October-December period, and its cofounder and chairman Yashish Dahiya told ET on January 31 that the company was looking to return a part of its capital to shareholders either through a share buyback or dividends
On Wednesday, PB Fintech reported its first ever net profit of Rs 37.2 crore for the third quarter ended December. Following through on the guidance provided in the previous quarters, the company also reported profits of Rs 4.2 crore for the first nine months of FY24.
The firm’s revenue from operations grew 43% on year to Rs 871 crore in the third quarter. Its core online marketplaces Policybazaar and Paisabazaar reported a 39% increase in combined revenues at Rs 593 crore.
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