Tencent sells 2.13% stake in Policybazaar parent PB Fintech for Rs.1,668-Cr

Tencent Cloud Europe BV, an affiliate of Shenzhen, China-based technology multinational Tencent, has sold a 2.13% stake (97 lakh shares) in PB Fintech, the parent company of Policybazaar, for INR 1,668.15 crore. The shares were disposed of at an average price of INR 1,719.75 apiece.After the share sale, Tencent's shareholding in PB Fintech has declined to 2.13 % from 4.26 %.SBI MF, Axis MF, Mirae Asset MF, ICICI Prudential Life Insurance, HDFC Life Insurance, Europacific Growth Fund, Goldman Sachs Singapore, Copthall Mauritius Investment, Ghisallo Master Fund LP, SocGen, and British hedge fund Marshall Wace were among the buyers of PB Fintech's shares.