Private Equity

Liquidity Events

Tencent sells PolicyBazaar shares worth Rs.416-Cr

Stock Exchange Data (NSE)  

China's Tencent, via Tencent Cloud Europe B.V., has sold 33,00,000 equity shares (a less than 0.8% stake) at INR 1,259.71 per share of publicly listed PB Fintech (which operates insurtech services under the brand PolicyBazaar) on June 6 through a bulk deal on NSE. The sale aggregates to INR 415.70 crore.At the end of March 2024, Tencent’s ownership in PB Fintech had stood at 6.26%.

In Nov 2019, Tencent had acquired a 10% stake in PolicyBazaar. The company went public in Nov 2021. In May 2023, Tencent had sold a 2.1% stake for INR 562 crore at INR 596.66 per piece.