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fintech / news / / NDTV Profit

Foreign investor Tencent Cloud has offloaded stake worth Rs 695 crore in PB Fintech Ltd. The shares were sold at a base price of Rs 1435.1.

Tencent Cloud sold 48 lakh PB Fintech shares worth Rs 695 crore in a block deal.

KEY POINTS
Foreign investor Tencent Cloud has offloaded stake worth Rs 695 crore in PB Fintech Ltd., after selling as many as 48 lakh equity shares in block deal on Friday. The shares were sold at a base price of Rs 1435.1. Mirae Asset Mutual Fund and Goldman Sachs Bank Europe SE topped the list of buyers. Goldman Sachs bought approximately Rs 101 crore worth of stake after adding 7 lakh shares and Mirae Asset cumulatively acquired close to Rs 129 crore worth of stake. Similarly, Societe Generale ODI and Viridian Asia Opportunities Master Fund each bought shares valued at Rs 100.46 crore. Goldman Sachs Bank Europe SE - Offshore Derivative Instruments (ODI) purchased shares totaling Rs 81.01 crore. Schroder Asian Alpha Plus Fund invested Rs 49.79 crore into the company after buying over three lakh shares. Tata Mutual Fund followed closely with a purchase of Rs 49.51 crore. DSP Mutual Fund acquired a stake worth Rs 46.73 crore after buying 3 lakh stocks, and Schroder AsiaPacific Fund PLC completed the list of primary buyers with a purchase of Rs 36.89 crore. ALSO READ: PB Fintech Trades Lower After Tencent Cloud Sells Shares Via Block Deal PB Fintech Share Price Shares of Policybazaar's parent company PB Fintech fell over 2% in the pre-market session on Friday, March 6, after the leading online insurance marketplace saw a block deal during the first session. The stock extended losses after the opening bell on the back of the block deal after Chinese cloud computing firm Tencent Cloud sold PB Fintech shares via a joint transaction. The stock ended 3.19% lower at Rs 1,428.15 apiece.
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