PB Fintech promoter likely to sell up to 1.86 percent stake via block deals: CNBC-TV18
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The promoter of PB Fintech is looking to sell up to 1.86 percent shares in the company via a series of block deals, CNBC-TV18 reported on May 16, quoting sources.
The offer size for the block trades in PB Fintech is around Rs 1,053 crore at a floor price of Rs 1,258 per share. This price translates to a six percent discount to Thursday’s closing price. Sources also inform that there could be a 365-day lock-in for the next tranche of stake sale by the promoter.
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Shares of PB Fintech were just this week added to the MSCI India index, and as per Nuvama Alternative & Quantitative Research, PB Fintech is expected to see an inflow of up to $283 million.
The company has posted a quarterly profit of Rs 60 crore for Q4FY24, after breaking even a quarter ago. It also announced a divestment of its holdings in Visit Health – a wholly-owned subsidiary of PB Fintech – expected to fetch Rs 76 crore.
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