Liquidity Events
Tencent sells shares worth Rs.695-Cr in insurance marketplace PolicyBazaar
China’s Tencent (via Tencent Cloud Europe BV) divested 4,840,439 equity shares in PB Fintech , the parent company of insurance aggregator PolicyBazaar, at INR 1,435.10 apiece, realising INR 694.65 crore.Prior to this transaction on March 6, Tencent Cloud Europe BV held 9,748,750 shares, representing a 2.12% stake, which has now decreased to 4,908,311 shares, or 1.06% of the company.
Tencent invested USD 150 M in as a part of the Series F round in 2019. Other investors in the company include Info Edge, Athera Venture Partners, PremjiInvest, Steadview Capital, Burman Family Office, Chiratae Ventures, TrueNorth, Wellington Management, Alpha Wave Global, 360 ONE, Bay Capital Investments, White Oak Capital Management and others.For FY25, PolicyBazaar had reported about INR 153 Cr in Operating Income and about INR 13 Cr in PAT.
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