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HomeMarketStocksTiger Global offloads 2.98% shares of PB Fintech worth Rs 522 crore

Tiger Global offloads 2.98% shares of PB Fintech worth Rs 522 crore

Tiger International Administration on Monday offloaded shares of Policybazaar’s father or mother agency for Rs 522 crore by way of open market transactions. PB Fintech operates on-line insurance platform Policybazaar and credit comparability portal Paisabazaar.

Based on the bulk deal knowledge out there with the Nationwide Inventory Alternate (NSE), funds managed by Tiger International — Tiger International Eight Holdings and Web Fund III Pte — bought a complete of 1,34,17,607 shares, amounting to 2.98 per cent stake within the firm.

The shares had been disposed of at a median worth of Rs 389.38-Rs 389.44 apiece, taking the transaction worth to Rs 522.50 crore.

In the meantime, WF Asian Reconnaissance Fund acquired 50 lakh shares of the corporate.

Final week, Tiger International Administration divested 3.5 per cent stake in PB Fintech.

As of quarter ended September, Tiger International by way of its fund Tiger International Eight Holdings owned 4.23 per cent and thru Web Fund III Pte held 2.87 per cent stake within the firm, shareholding knowledge confirmed with the bourse.

On Monday, shares of PB Fintech closed 3.06 per cent decrease at Rs 387.10 on NSE.

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