SoftBank to sell 5% of its stake in Policybazaar’s parent company, PB Fintech

SoftBank is reportedly planning to sell 5% of its stake in Policybazaar’s parent company, PB Fintech, in a block deal on Friday (December 2).

According to CNBC-TV18, the stake sale would be worth INR 1,000 crore. The transaction would take place at a 4.6% discount to PB Fintech’s last BSE closing price of INR 461.55. According to the report, the deal’s base price would be INR 440 per share, with Citi acting as the deal’s broker. SoftBank, a major investor in Indian startups, sold Paytm shares worth $200 million last month.