Singapore’s sovereign wealth fund Temasek Holdings sold 2.37 per cent stake in PB Fintech, owners of Policybazaar platform, for about ₹1,732.45 crore
According to NSE bulk deal, Macritchie Investments, an arm of Temasek Holdings, sold nearly 1.08 crore shares of online insurance aggregator at an average price of ₹1,604.12. However, the identities of the buyer were not disclosed on the exchange.
Prior to the transaction, Macritchie Investments had held a 6.47 per cent stake (2.99 crore shares) in PB Fintech. Following the stake sale, the stock crashed 5.40 per cent to ₹1,591.20. During the day, it plunged to as low as ₹1,545.50.