Softbank Plans To Sell 5% Stake In PB Fintech
Softbank a Japanese firm plans to sell, 5 per cent of shares in PB FIntech the parent company of Policy Bazaar
SoftBank plans to sell, a 5 per cent stake in PB Fintech, the parent company of Policybazaar, through a block deal. The stake would be offloaded and would be worth Rs 1,000 crore. According to the media reports, the base price for the block deal is Rs 440 per share.
Softbank has around 10 per cent of its stake in PolicyBazaar. After the deal, Softbank will have a 5 per cent stake in the company. According to the report, It is likely to be at a 5 per cent discount to its closing price of December.
SoftBank has an investment of $199 million in Policy Bazaar and has sold shares of $250 million in its IPO, the previous year. It has made a 2.5 X on its investment in the insurance aggregator at an internal rate of return of 38 per cent.
