PolicyBazaar owner PB Fintech’s shares slumps 11.5% as CEO divests holdings

Shares of PB Fintech – the parent of Policy Bazaar and Paisa Bazaar portals – dropped as much as 15 per cent on Tuesday after Chairman and Chief Executive Officer Yashish Dahiya offloaded 3.78 million shares.

The stock ended at Rs 582.8 apiece, down 11.5 per cent—the second-biggest single-day fall after its listing in November.

PB Fintech’s shares touched an intra-day low of Rs 556 on the NSE, where shares worth Rs 638 crore changed hands. A stock exchange disclosure showed Dahiya sold 3.78 million shares (0.84 per cent stake) at Rs 610.2 apiece for a total of Rs 230 crore.

Market players said the founder’s decision to sell a large quantity of shares at a time when PB Fintech’s stock has more than halved from highs hurt investor sentiment.