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SoftBank plans to sell 5% stake in PB Fintech via block deal: Report

The block deal on Friday could be at a base price of 440 rupees per share, CNBC-TV18 said in a tweet. PB Fintech's shares closed at 461 rupees on Thursday

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Reuters BENGALURU

1 min read Last Updated : Dec 01 2022 | 11:44 PM IST

SoftBank Group plans to sell a 5% stake in India's PB Fintech Ltd, the parent of online insurance aggregator Policybazaar, through a block deal, local media channel CNBC-TV18 reported on Thursday, citing sources.

The block deal on Friday could be at a base price of 440 rupees per share, CNBC-TV18 said in a tweet. PB Fintech's shares closed at 461 rupees on Thursday.

SoftBank declined to comment, while PB Fintech did not immediately respond to a Reuters request for comment.

Japanese conglomerate SoftBank owns a more than 10% stake in PB Fintech through two of its units, according to exchange data.

One of the units, SVF India Holdings, will likely sell the shares, the CNBC-TV18 tweet said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : SoftBank Softbank Group Policybazaar