PB Fintech promoter trims stake by 2.09% through open market

PB Fintech shares will remain in focus on Dalal Street on Wednesday, after its promoter Tencent Cloud Europe BV cut its stake by 2.09 per cent through open market transactions. Tencent Cloud Europe's stake in PB Fintech — which owns and operates the Policybazaar and Paisabazaar platforms — came down to 6.28 per cent, from 8.37 per cent at the end of March 2023.

The deal, worth Rs 561.8 crore, took place on May 26 at an average price of Rs 596.7 apiece, according to bulk deal data.

Citi maintained a 'buy' rating on PB Fintech with a target price of Rs 820.  

(This story will be updated shortly)

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.