Stock of this fintech company has tanked 70 per cent from its record high

With 28 million shares opening up on November 15, 2022, along with 4 million shares that were already unlocked for AIF / FVCI investors, the float for PB Fintech is expected to go up significantly

Shares of PB Fintech, the parent company of Policybazaar, declined nearly 2 per cent to hit a new low of Rs 434 per share in Monday’s intra-day trade, in an otherwise firm market.

The stock of fintech company quoted lower for the seventh straight trading day, as shares fell 12 per cent, during the period. PB Fintech’s pre-IPO shareholders’ lock-in expired on November 15, 2022.

PB Fitech traded at its lowest level since market listing on November 15, 2021. The stock price of the company more-than-halved or were down 55 per cent against its issue price of Rs