PB Fintech Ltd. co-founders Yashish Dahiya and Alok Bansal are set to sell shares in the secondary market on Thursday.
Dahiya is the chairperson and group chief executive officer, while Alok Bansal is the executive vice chairperson in the parent company of online insurance aggregator Policybazaar.
The two have offered to sell over 50 lakh shares, representing 1.1% equity, via the block trade mechanism, as per term sheet accessed by NDTV Profit. The base price is set at Rs 1,800 per share, a 2.2% discount to the last closing, making the transaction value of Rs 912 crore.
The block deal window is open in the morning trading session from 8:45 a.m. to 9:00 a.m. and in the afternoon trading session from 2:05 p.m. to 2:20 p.m.
Block deals are executed off the exchange's central order book and are negotiated between two parties, typically institutional investors, such as mutual funds, insurance companies or banks.
Though not identified as promoters, Dahiya held a 4.31% stake and Bansal held 1.4% equity in the company as of March.
Foreign investors own 45.93% and mutual funds have 15.87% shareholding.
Shares of PB Fintech settled 1.43% lower at Rs 1,839.75 apiece on the BSE, compared to a 0.85% advance in the benchmark Sensex.
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