Tencent Halves Stake in PB Fintech as Institutional Investors Buy In
Shares of PB Fintech, the parent company of Policybazaar and Paisabazaar, experienced significant block deal activity on Friday, with institutional investors acquiring shares from Tencent Cloud Europe BV. The transactions totaled approximately Rs 695 crore.
Tencent Reduces Holding
According to exchange data, Tencent Cloud Europe BV offloaded 48,40,439 shares of PB Fintech at Rs 1,435.10 per share, resulting in a total transaction value of around Rs 694.65 crore Moneycontrol, Entrackr.
Prior to the sale, Tencent Cloud Europe held 97,48,750 shares, representing a 2.12% stake in PB Fintech. Following the block deal, its holding has been reduced to 49,08,311 shares, equivalent to a 1.06% stake in the company Entrackr.
Institutional Investor Participation
Several institutional investors participated in the block deal, demonstrating continued interest in PB Fintech. Key buyers included:
- Goldman Sachs: Goldman Sachs Bank Europe SE purchased 7,01,249 shares worth Rs 100.63 crore, while Goldman Sachs Bank Europe SE – ODI acquired 5,64,508 shares amounting to Rs 81 crore Entrackr.
- DSP Mutual Fund: Acquired 3,25,643 shares worth Rs 46.73 crore Moneycontrol.
- Mirae Asset Mutual Fund: Purchased 9,00,000 shares valued at Rs 129.15 crore Moneycontrol.
- Schroder: Schroder Asian Alpha Plus Fund purchased 3,46,958 shares worth Rs 49.8 crore, and Schroder AsiaPacific Fund PLC bought 2,57,081 shares valued at Rs 36.9 crore Moneycontrol.
- Société Générale & Tata Mutual Fund: Société Générale (ODI) and Tata Mutual Fund acquired 7,00,000 shares (Rs 100.45 crore) and 3,45,000 shares (Rs 49.5 crore), respectively Moneycontrol.
- Viridian Asia Opportunities Master Fund: Bought 7,00,000 shares for Rs 100.45 crore Moneycontrol.
PB Fintech’s Performance
This move follows Policybazaar’s recent quarterly results, which showed a 32.5% increase in revenue to Rs 1,711 crore in Q3 FY26, and a surge in net profits Entrackr.
PB Fintech operates the digital insurance marketplace Policybazaar and the credit marketplace Paisabazaar, offering consumers a platform to compare and purchase financial products online.