SoftBank to sell 5% stake in Policybazaar via block deal
SoftBank may sell a 5% stake in Policybazaar (Promoter company PB Fintech), the parent company of Policybazaar, through a block deal in Dec. 2. The quota to be withdrawn will cost Rs 1,000 crore, according to the report. The base price of the block deal is Rs 440 per share, the report adds.Currently, SoftBank owns up to 10% in Policybazaar. Therefore, after the deal, SoftBank will have a 5% stake in the company.The block agreement, according to the report, is expected to be reduced by 5% from …
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