PB Fintech surged 8.70% to Rs 435.50 after the counter witnessed large block deals in morning trade today, 24 November 2022.
On the BSE, 48.40 lakh shares of the company were traded in the counter so far as against an average trading volume of 4.09 lakh shares in the past three months.On the NSE, 1.57 crore shares changed hand in the counter so far compared with an average trading volume of 25.35 lakh shares traded in the past three months.
PB Fintech, the owner of Policybazaar and Paisabazaar platforms, is India's largest online platform for insurance and lending products.
The PB Fintech scrip was listed on 15 November 2021 at Rs 1150, a premium of 17.35% to the issue price of Rs 980. The stock is currently trading 55.56% below its IPO price. It hit a record low of Rs 356.20 on 17 November 2022.
The initial public offer (IPO) of PB Fintech received was subscribed 16.58 times. The issue opened for bidding on 1 November 2021 and it closed on 3 November 2021. The price band of the IPO was fixed at Rs 940-980 per share.
On a consolidated basis, PB Fintech reported net loss of Rs 186.64 crore in Q2 September 2022, lower than net loss of Rs 204.44 crore in Q2 September 2021. Revenue from operations surged 105.1% year on year to Rs 573.47 crore in Q2 September 2022.
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During the quarter, total expenses jumped 62.6% to Rs 815.12 crore. Advertising and promotion expenses surged 93.51% to Rs 312.38 crore. Network and internet expenses increased 36.69% to Rs 24.33 crore. Employee benefit expense climbed 48.37% to Rs 410.29 crore.
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