PB Fintech Ltd. has invested Rs 539.4 crore in its subsidiary PB Healthcare Services Pvt. as part of the first round of seed funding, where the company and other investors are contributing a total of Rs 1,461.6 crore, according to an exchange filing on Thursday.
This investment aligns with the shareholder approval announced on April 15.
As a result of these investments and the creation of an employee stock option plan pool, PB Fintech's ownership in PB Healthcare will reduce from 100% to 32.14% on a fully diluted basis once all allotments in this funding round are complete, the filing said.
The investment aims to improve the subsidiary's financial stability and drive its growth objectives. Reducing the shareholding is a strategic move to welcome external investors and establish an ESOP pool for attracting and retaining skilled talent, it said.
PB Healthcare was established on Jan. 1, 2025, to operate in the healthcare sector and provide related services across India.
Shares of PB Fintech closed 0.14% higher at Rs 1,667.20 apiece on the National Stock Exchange, compared to a 0.34% fall in the benchmark Nifty. The stock has risen 35.75% in the last 12 months but fallen 20.94% on a year-to-date basis.
Out of the 20 analysts tracking the company, nine have a 'buy' rating on the stock, three recommend 'hold' and eight suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 3.9%.
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