By Admin 
Pb Fintech Block Deal: A big block deal was seen in the Indian stock market on the last trading day of the week. This deal was done in the shares of PB Fintech Limited, which operates the digital insurance platform Policybazaar and Paisa Bazaar.
According to exchange data, shares worth about Rs 695 crore were bought and sold through this deal. Many big investors participated in this deal, including major mutual fund houses and foreign institutional investors. Let us know about this…
About block deal..
Talking about the block deal, Tencent Cloud Europe BV has sold a major part of its stake through this block deal. According to the data, Tencent Cloud held 96.8 lakh shares of PB Fintech as of the December quarter. Which is 2.09 percent of the total stake of the company.
Who became the main buyers?
From domestic to global investors have placed their bets in this block deal. The world’s largest investment bank Goldman Sachs has purchased company shares through its two affiliated companies. Goldman Sachs Bank Europe SE purchased about 7.01 lakh shares.
Also placed bets on about 5.64 lakh shares through offshore derivative instruments. Domestic mutual funds have also shown their confidence in PB Fintech. Tata Mutual Fund has purchased more than 3.4 lakh shares. These figures clearly show that foreign and domestic investors remain interested in the company.
Company’s performance in stock market
Company shares had slipped at the end of Friday’s trading day on BSE. The stock closed trading at Rs 1428.15 with a decline of 3.19 percent or Rs 47. The intraday high of the day was Rs 1465. The market cap of the company is around Rs 66,079 crore.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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