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Temasek Holdings exits PB Fintech for ₹2,425 cr
Mint Mumbai
|February 02, 2024
The transaction was executed through a block sale on the exchanges
Singapore-based global investment firm Temasek Holdings Pte Ltd on Thursday sold its entire stake in PB Fintech, which operates PolicyBazaar and PaisaBazaar, in a transaction valued at ₹2,425.4 crore.
The transaction was executed through a block sale, a person familiar with the matter said.
Temasek, through its entity Claymore Investments (Mauritius), divested 24 million shares of PB Fintech at ₹992.8 per piece, according to BSE block deals data.
While PB Fintech did not immediately respond to Mint’s request for comment, Temasek’s spokesperson said the company does not comment on market speculation and rumours.
Other investors have also booked profits after they sold their stake in the company. Most recently, Japanese investor SoftBank also fully exited its investment in PolicyBazaar’s parent company last month for a total consideration of $650 million on its investment, Business Standard reported citing people familiar with the matter.
This story is from the February 02, 2024 edition of Mint Mumbai.
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