Block Deal Buzz: PB Fintech Shares Worth INR 920 Cr Change Hands

As many as 50.5 Lakh shares of PB Fintech reportedly changed hands in the pre-open block deal window today. Buyers and sellers in the transaction are not officially known.

As per a CNBC TV18 report, the shares changed hands at a price of INR 1,821.50 per share, taking the total transaction value to INR 920 Cr.

This is at a discount of around 1% from the previous closing price of INR 1,839.75.

The number of shares that changed hands aggregate to 1.1% of the total outstanding equity of PB Fintech.

While BSE/NSE data did not reflect any bulk deal, the report suggested that PB Fintech’s cofounders Yashish Dahiya and Alok Bansal were likely the sellers. It also added that the deal included a 90-day lock-in for the sellers, meaning they cannot sell more shares for three months.

Shares of PB Fintech slumped close to 2% on the block deal buzz, and the company’s market volume was 20 Lakh at 2 PM.

At the same time, PB Fintech’s market capitalisation stood at INR 2,254.95 Cr.

Inc42 has reached out to PB Fintech for comments on the development. The story will be updated based on the responses.

(The story will be updated soon.)

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