2.1% stake in PB Fintech likely sold by Tencent Cloud Europe for Rs 1,610 crore ($205 million).
PB Fintech shares surged on Aug 29 amid reports of a block deal by Tencent Cloud Europe, which is likely to sell a 2.1% stake in PB Fintech for an estimated Rs 1,610 crore ($205 million). The company reported a 46.1% YoY increase in core online premiums and a 40.1% YoY rise in core platform business insurance revenue in its June quarter results. PB Fintech's online insurance premium also experienced growth: a 66% YoY jump for the core online insurance premium and a 78% surge in new (Health & Life Insurance) premium.
August 28, 2024
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