Softbank has offloaded a 2.5 per cent stake in PB Fintech through open market transactions for Rs 871 crore. Softbank through its affiliates -- SVF India Holdings (Cayman) and SVF Python II (Cayman) -- sold the shares of the company. The shares were offloaded at an average price of Rs 762.80 apiece.
SVF India Holdings (Cayman) sold 30,97,576 shares and SVF Python II (Cayman) disposed of 83,23,635 shares, amounting to a 0.7 per cent and 1.8 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.
