SoftBank plans to sell 5% stake in India's PB Fintech via block deal - report
FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo
BENGALURU : SoftBank Group plans to sell a 5 per cent 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 per cent 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.
