The co-founders of PB Fintech Ltd have successfully completed their planned secondary share sale, selling ₹665.38 crore worth of shares to several domestic and global investors on May 29. Yashish Dahiya sold 26 lakh shares (0.56% stake) for ₹455.26 crore, while Alok Bansal offloaded 12 lakh shares (0.26% stake) for ₹210.12 crore. The transaction price was set at ₹1,751 per share, representing a 3.6% discount to the stock's closing price of ₹1,784.80 on the National Stock Exchange on Wednesday. Following these sales, Dahiya's and Bansal's stakes now stand at 3.86% and 1.16% respectively, down from the 3.8 million shares they had previously offered. The aggregate transaction value stood at ₹665.38 crore, with these investors buying a total of 38 lakh equity shares, representing a 0.82% stake in the fintech company.
The sale attracted significant interest from international investors, with ST James's Place Emerging Markets Equity Unit Trust emerging as the biggest buyer, purchasing 4.67 lakh shares for ₹81.85 crore. Viridian Asia Opportunities Master Fund followed with 4.37 lakh shares for ₹76.63 crore, while Societe Generale acquired 4.34 lakh shares for ₹76.01 crore. Goldman Sachs Bank Europe SE bought 3.28 lakh shares for ₹57.47 crore, and National Pension System (NPS) Trust acquired 3.8 lakh shares for ₹66.66 crore. Other notable buyers included Wasatch Advisors LP, BNP Paribas Financial Markets, Ghisallo Master Fund, Los Angeles City Employees Retirement System, Matthews Asia Funds, Metzler Asset Management, Morgan Stanley Asia Singapore, and Tata Mutual Fund. Among the global financial institutions, Goldman Sachs, Societe Generale, and Morgan Stanley collectively acquired 38 lakh equity shares through open-market transactions, with other foreign investors including Ghisallo Capital Management, Metzler Asset Management, Matthews International Capital Management, Wasatch Global Investors, BNP Paribas, and Hong Kong-based Viridian Asset Management.
The secondary sale coincided with significant market volatility, as PB Fintech shares fell 3.85% (the biggest single-day fall since February 3) to close at ₹1,716 on the National Stock Exchange on Friday. The decline came after consolidation in the past week, reflecting broader market sentiment around the transaction. The company, founded by Yashish Dahiya, Manoj Sharma, Avaneesh Nirjar, Tarun Mathur, and Alok Bansal in 2008, operates as the parent company of Policybazaar and Paisabazaar. Following the transaction, Dahiya and Bansal's combined shareholding in the fintech company declined to 4.2% from 5.02%. As per The Economic Times, the shares have fallen over 24% since the latest sale, closing at ₹1,702.50 on Friday, though they remain 48% above their listing price and 74% higher than their IPO price of ₹980.
The proposed share sale follows the release of the company's financial results for the fourth quarter of fiscal year 2026 (FY26). PB Fintech capped the fiscal year with a surge in earnings, fueled by an expansion in its core insurance marketplace, a steady stream of recurring renewal income, and sustained traction in retail lending. Consolidated net income was ₹261 crore for the three months to 31 March, a 54% jump from the same period a year earlier. Consolidated revenue from operations climbed 37% year-on-year to ₹2,061 crore for the quarter, anchored by a sharp increase in its insurance distribution vertical. Total insurance premiums collected via the platform during the March quarter rose 46% year-on-year to ₹9,217 crore. The company had a profit after tax of ₹170 crore in the January-March quarter of 2024-25, demonstrating consistent growth in profitability. For the January-March quarter of FY26, PB Fintech reported operating revenue of ₹2,061 crore, marking a 36% year-on-year rise, driven primarily by growth in new insurance premium collections, the group's core business.
The latest stake sale is part of a series of share disposals in recent years by the co-founders. In June 2025, Yashish Dahiya and Alok Bansal together sold a little over 1% stake in the company for ₹920 crore. Prior to that, the co-founders had divested a 1.8% stake for ₹1,109 crore in May 2024. In June 2022, Dahiya sold nearly 38 lakh shares for ₹230 crore, while Bansal divested more than 28 lakh shares in February for ₹236 crore. PB Fintech had launched its ₹5,710-crore initial public offering in November 2021, during which the co-founders and several other shareholders had reduced their holdings. The company currently has a market capitalisation of more than ₹79,398 crore and a P/E ratio of more than 117x. Shares of PB Fintech will remain in focus as investors assess the impact of the stake sale and changes in promoter shareholding following the transaction.
