PB Fintech’s Dahiya, Bansal divest Rs 1,109 crore worth of shares | Company News
They sold 8.37 million shares at Rs 1,325 apiece. Among the buyers were over two dozen funds, which included Morgan Stanley, Societe Generale, Axis Mutual Fund, and New World Fund
BS Reporter Mumbai
Yashish Dahiya and Alok Bansal, co-founders of PB Fintech, divested a 1.86 per cent stake in the fintech major for Rs 1,110 crore on Friday. Dahiya, who is also the Chairman and CEO of the company, sold a 1.2 per cent stake to mop up Rs 716 crore, while Bansal, the vice chairman, sold a 0.66 per cent stake for Rs 394 crore.
They sold 8.37 million shares at Rs 1,325 apiece. Among the buyers were over two dozen funds, which included Morgan Stanley, Societe Generale, Axis Mutual Fund, and New World Fund.
Click here to follow our WhatsApp channel
“Substantial portions of the proceeds from the sale are proposed to be used to make the payment of taxes on current and future ESOP exercises…They are committed to the growth and success of the company,” the company said in a statement.
Following the share sale, Dahiya’s stake will fall to 4.83 per cent and Bansal’s will decline to 1.63 per cent.
