PB Fintech Tumbles Over 9% After Investment In Healthcare Arm Fails To Cheer Investors – News18
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Shares of PB Fintech, the parent company of Policybazaar, dropped over 9% on Wednesday; Key points
PB Fintech Share Price Falls 9%.
Shares of PB Fintech, the parent company of Policybazaar, dropped over 9% on Wednesday after the company’s proposal to invest Rs 696 crore into its healthcare arm failed to boost investor sentiment.
The PB Fintech stock fell by 9.13% to Rs 1,335.35 on the BSE, and on the NSE, it declined by 9.04% to Rs 1,336.20.
The broader market was also trading in the red, with the 30-share Sensex dropping 470.78 points, or 0.64%, to 73,631.54, and the NSE Nifty losing 134.65 points, or 0.6%, to 22,363.25.
On Tuesday, PB Fintech announced its plan to infuse Rs 696 crore into its subsidiary, PB Healthcare Services Private Limited, during the next financial year to fuel business growth.
This decision was approved by the company’s Board of Directors in a meeting on Tuesday.
“An investment for an aggregate amount of up to INR 696,00,00,000 (Indian Rupees Six Hundred Ninety Six Crore only) in PB Healthcare Services Private Limited, its wholly owned subsidiary by way of subscribing or purchasing its Equity Shares or Compulsory Convertible Preference Shares during the financial year 2025-26,” PB Fintech said in a regulatory filing.
The investment, subject to shareholder approval via postal ballot, will be made alongside external investors, including Chairman & CEO Yashish Dahiya, Executive Vice Chairman Alok Bansal, and three Key Managerial Personnel (KMPs).
“The said investment is, however, subject to the shareholder’s approval through postal ballot and will be made along with other external investors in PB Healthcare Services Private Limited,” PB Fintech said.
PB Fintech further stated that the funds would be used for general operating expenses, enhancing brand awareness, increasing office presence, and supporting strategic initiatives.
PB Healthcare Services, incorporated in January 2025, is set to operate in the healthcare and allied services sector in India.
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