PB Fintech Block Deal: Ghisallo, ICICI Prudential, HDFC Life Top Buyers After Co-Founders Pare Stake
Other notable investors were Hong Kong firm Ward Ferry Management, Societe Generale, Morgan Stanley and Tata Mutual Fund.
Policybazaar parent PB Fintech Ltd. witnessed institutional interest on Thursday as prominent names mopped up shares sold by two co-founders.
Yashish Dahiya, chairperson and group chief executive officer, sold 0.74% equity for Rs 619 crore, as per NSE data. The shares were offloaded via block deals at Rs 1,821.5 apiece, higher than the base price of Rs 1,800 per share. Executive Vice Chairperson Alok Bansal sold a 0.36% stake for Rs 300 crore.
On the buyer side, US hedge fund Ghisallo Capital and ICICI Prudential Life Insurance Co. bought 0.16% equity each for Rs 138 crore. HDFC Life Insurance Co. acquired shares worth Rs 130 crore.
Other notable investors were Hong Kong firm Ward Ferry Management, Societe Generale, Morgan Stanley and Tata Mutual Fund.
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 a 15.87% shareholding. Insurance companies own 4.06%.
During the session, the scrip had a delivery turnover of Rs 177 crore and a ratio of 37.15%. The stock traded 3.12 times its average 30-day volume.
Shares of PB Fintech settled 0.27% lower at Rs 1,834.7 apiece on the BSE, compared to a 1.2% advance in the benchmark Sensex.
