Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Fintech»PB Fintech Block Deals | Tencent Cloud Europe likely to sell 2.1% stake at ₹1,660.2 per share
    Fintech

    PB Fintech Block Deals | Tencent Cloud Europe likely to sell 2.1% stake at ₹1,660.2 per share

    August 28, 20242 Mins Read


    Tencent Cloud Europe BV is likely to offload a 2.1% stake, equating to approximately 9.7 million shares, in PolicyBazaar’s promoter PB Fintech Ltd through block deals, sources in the know told CNBC-TV18.

    The floor price for this transaction is set at ₹1,660.2 per share, which represents a 4.5% discount to the current market price, the sources said.

    The deal will be subject to a 60-day lock-in period for the seller, the sources added.

    Also Read: PB Fintech Q1 Results | Policybazaar parent swings to black, revenue jumps 52%
    PB Fintech reported a net profit of ₹60 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, PB Fintech posted a net loss of ₹11.9 crore.

    The company’s revenue from operations jumped 51.8% to ₹1,010.5 crore against ₹665.6 crore in the year-ago period. At the operating level, adjusted EBITDA stood at ₹49 crore in the first quarter of this fiscal over ₹23 crore in the first quarter of the previous quarter.

    The adjusted EBITDA margin stood at 5% compared to 3% in the corresponding period of the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

    Also Read: PB Fintech to acquire 100% stake in Genesis Group, plans divestments in Visit Health and Visit Internet

    In the June quarter, PB Fintech reported a total insurance premium of ₹4,871 crore, driven by a 78% YoY growth in the new health and life insurance business. The new core online insurance premium increased by 66%.

    Shares of PB Fintech Ltd ended at ₹1,731.15, down by ₹43.10, or 2.43%, on the BSE.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    MTN Uganda shareholders approve Fintech separation to boost digital inclusion

    Fintech

    As profits soar, PB Fintech takes a second bite at mutual funds

    Fintech

    Report – Fintech adds billions to North of England economy and it’s growing

    Fintech

    5 high-ROI uses of RAG models in banking and fintech: By John Adam

    Fintech

    Ethics in focus as banks confront AI, fintech gap

    Fintech

    Top five fintech deals in Africa in H1

    Fintech
    Leave A Reply Cancel Reply

    Top Picks
    Stock Market

    Live: Internet outage latest | Airlines, businesses, border crossings hit by global tech disruption

    Cryptocurrency

    Cryptocurrency and the Modern Mom_ Finding Financial Independence and Mental Clarity

    Commodities

    Projet “Lichen” à Saillat (87) : “nous avons des points de vigilance” dit Yoann Balestrat du collectif Énergie Citoyenne

    Editors Picks

    31% of Kenyan banks ready to deal in cryptocurrency: CBK

    June 5, 2025

    How will major real estate industry change affect LI?

    August 8, 2024

    5 things to know for June 18: Iran, Gaza, Cryptocurrency, Indonesia volcano, Stanley Cup final

    June 18, 2025

    Bomib Transforms Cryptocurrency Investing with Cutting-Edge

    August 19, 2024
    What's Hot

    New Cryptocurrency Releases, Listings, & Presales Today – DaVinci Protocol, AskNoel, Mantle

    March 19, 2025

    Third Point Delivers 13% YTD Returns, Eyes Potential Gains in Event-Driven Plays and New Investments

    October 17, 2024

    Agricultural Financing in Uganda: A transformative approach

    May 3, 2025
    Our Picks

    China’s middle class feels the squeeze as property slump hits pocketbooks

    February 17, 2025

    7 Affordable Places To Buy Property Before 2024 Ends

    July 14, 2024

    Olympic champion Hezly Rivera on gold at 16, commitment to LSU, and dreams of LA28

    October 25, 2024
    Weekly Top

    Why finding the right property manager is a must

    August 1, 2025

    The brilliant new metal bands you need to hear in August 2025

    August 1, 2025

    MTN Uganda shareholders approve Fintech separation to boost digital inclusion

    August 1, 2025
    Editor's Pick

    the digital transformation that could reshape global monetary policy

    May 19, 2025

    A Stepwise Guide for All Kinds of Investors

    July 30, 2025

    Une centrale photovoltaïque de plus de 73 000 mètres carrés sur le site d’une ancienne décharge

    June 16, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.