SoftBank Group plans to sell a 5% stake in India’s PB Fintech Ltd, the parent of online insurance aggregator Policybazaar, through a block deal, local media channel CNBC-TV18 reported on Thursday, citing sources.
The block deal on Friday could be at a base price of 440 rupees per share, CNBC-TV18 said in a tweet. PB Fintech’s shares closed at 461 rupees on Thursday.
SoftBank declined to comment, while PB Fintech did not immediately respond to a Reuters request for comment.
Japanese conglomerate SoftBank owns a more than 10% stake in PB Fintech through two of its units, according to exchange data.
One of the units, SVF India Holdings, will likely sell the shares, the CNBC-TV18 tweet said.
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
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