Singaporean sovereign wealth fund Temasek Holdings  sold its entire 5.42% stake in Policybazaar's parent firm PB Fintech for 2,425 crore through open market transactions. The sovereign wealth fund exit Policybazaar's parent firm by selling its 5.42% stake in three tranches on the BSE.

Wholly-owned subsidiary Claymore Investments (Mauritius) Pte Ltd, Temasek Holdings' sold the shares of PB Fintech in three tranches on the BSE.

The block deal data reveals that, Temasek Holdings' offloaded a total of 2,44,30,015 shares, representing a 5.42 per cent stake in PB Fintech. The shares were sold at an average price of ₹992.8 apiece, taking the combined deal value to 2,425.41 crore. The shares were disposed of at an average price of 992.8 apiece, taking the combined deal value to 2,425.41 crore.

PB Fintech was co-founded by Yashish Dahiya and Alok Bansal in 2008. The stock of PB Fintech dropped 0.59 per cent to close at 996.90 apiece on the BSE. The company operates online insurance aggregator Policybazaar and credit comparison portal Paisabazaar. The company made its public market debut in November 2021.

In a regulatory filing on Tuesday, PB Fintech Ltd reported a net profit for the first time. It clocked a profit after tax of 37.2 crore for the third quarter ended December 31, 2023 against a net loss of 87 crore in the year-ago period on January 30. Its cash position also improved by 204 crore annually to 5,150 crore.

Previously, Japanese conglomerate Softbank's arm Svf Python II (Cayman) divested a 2.5 % stake in PB Fintech for 914 crore.

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