Tiger Global Management offloads stake in PB Fintech through open market transactions

15 Nov 2022 Evaluate

Tiger Global Management has offloaded shares in PB Fintech for Rs 522.50 crore through open market transactions. According to the bulk deal data available with the National Stock Exchange (NSE), funds managed by Tiger Global -- Tiger Global Eight Holdings and Internet Fund III Pte -- sold a total of 1,34,17,607 shares, amounting to 2.98 per cent stake in the company. The shares were disposed of at an average price of Rs 389.38-Rs 389.44 apiece, taking the transaction value to Rs 522.50 crore. Meanwhile, WF Asian Reconnaissance Fund acquired 50 lakh shares of the company.

Last week, Tiger Global Management divested 3.5 per cent stake in PB Fintech.

PB Fintech is India's leading online platform for insurance and lending products. The company provides convenient access to insurance, credit, and other financial products and aims to create awareness in India about the financial impact of death, disease, and damage.

PB Fintech Share Price

1132.00 26.00 (2.35%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
One97 Communications 402.75
Infibeam Avenues 34.12
Zaggle Prepaid Ocean 287.45
PB Fintech 1132.00
Suvidhaa Infoserve 5.69
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