Softbank divests 2.5 per cent stake in PB Fintech worth Rs 914 crore

Japanese conglomerate Softbank’s arm Svf Python II (Cayman) on Friday divested a 2.5 per cent stake in Policybazaar’s parent firm PB Fintech for Rs 914 crore through open market transactions.

HDFC Mutual Fund (MF), Mirae Asset MF, ICICI Prudential Life Insurance, Societe Generale, Capital Group, The Master Trust Bank of Japan, Government Pension Fund Global, Goldman Sachs, and China’s Best Investment Corporation, among others, were the buyers of the shares.

Following the share sale, shares of PB Fintech fell 2.31 per cent to close at Rs 789.45 apiece on the BSE.