PB Fintech: Goldman Sachs, Tata Mutual Fund buy stake in Rs 695 crore block deal

Shares of PB Fintech, the parent company of Policybazaar, saw large block deals worth about Rs 695 crore on Friday, with Goldman Sachs, mutual funds and foreign institutional investors picking up shares from an existing investor.

According to exchange data, Tencent Cloud Europe BV offloaded 48.40 lakh shares of PB Fintech at a price of Rs 1,435 per share, translating into a total deal value of about Rs 695 crore. Tencent Cloud Europe owned about 96.8 lakh shares or 2.09% in the company at the end of December quarter.

The shares were absorbed by a mix of domestic and global institutional investors through multiple block trades on the NSE. Among the key buyers was Goldman Sachs Bank Europe SE, which purchased 7.01 lakh shares, while another 5.64 lakh shares were bought through Goldman Sachs Bank Europe SE via offshore derivative instruments. Together, the two transactions represent a purchase of about Rs 182 crore at the block deal price.

Other prominent buyers included DSP Mutual Fund, Mirae Asset Mutual Fund, Tata Mutual Fund, and several foreign institutional investors such as Societe Generale through ODI structures and funds managed by Schroders.

Multiple schemes of Mirae Asset Mutual Fund participated in the transaction, collectively purchasing several tranches of PB Fintech shares in the block window. Tata Mutual Fund also acquired over 3.4 lakh shares across two trades, while Schroder-managed funds picked up more than 6 lakh shares combined.

The block deal suggests continued institutional interest in PB Fintech despite periodic stake sales by early investors and strategic shareholders.PB Fintech operates the digital insurance marketplace Policybazaar and credit marketplace Paisabazaar, which allows users to compare and purchase financial products such as insurance policies and loans online.The company has grown into one of India’s largest online insurance distribution platforms, connecting consumers with insurance providers through a digital marketplace model. Over the years, PB Fintech has expanded its product offerings and strengthened its presence in the broader fintech ecosystem.