Private Equity

Liquidity Events

Temasek exits Policybazaar by selling 5.42% stake for Rs.2,425-Cr

Economic Times  

Singapore’s sovereign wealth fund Temasek Holdings has sold its entire 5.42% stake in PB Fintech, the publicly listed parent firm of insurtech service Policybazaar, for INR 2,425.41 crore Temasek’s wholly-owned subsidiary Claymore Investments (Mauritius) Pte Ltd offloaded 2,44,30,015 shares, representing a 5.42% stake in PB Fintech at an average price of INR 992.8 apiece.Meanwhile, US-based financial services company Capital Group, through its various affiliates, acquired the shares of PB Fintech in seven tranches.

Temasek has been an investor in Policybazaar since 2015. It did not exit as part of the company’s Nov-21 IPO.