Temasek's Macritchie to sell ₹1,909cr PB Fintech stake July 3
Business
Temasek Holdings, the big Singapore investor, is set to offload ₹1,909 crore ($200 million) worth of shares in PB Fintech (the company behind Policybazaar) through a block deal on July 3.
Its investment arm, Macritchie Investments, plans to sell 11.9 million shares at ₹1,604 each, which is about 4.6% lower than Thursday's closing price.
Citigroup places sale Temasek retains 3.8%
Citigroup Global Markets India will handle the sale as the sole placement agent, with books closing early Friday morning.
Even after selling this chunk, Temasek will still hold onto a 3.8% stake for at least another two months.
Meanwhile, PB Fintech has been on a growth streak: revenue jumped 37% in the March quarter of FY25 year-on-year, and it is expanding into Dubai with new financial services.