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

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.