Shares of PB Fintech, which owns online financial services platform, PolicyBazaar hit a new high at Rs 2,017, as they rallied 5 per cent on the BSE in Wednesday's intra-day trade.
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PB Fintech posted a profit of Rs 60.2 crore in the fourth quarter of FY24 (Q4 FY24), as compared to a loss of Rs 9.34 crore in the same quarter a year ago
The stock of a fintech company was trading at its highest level since January 2022. It had hit a record high of Rs 1,470 on November 17, 2021.
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The stock opened higher and hit a 52-week high at Rs 816, before slipping into the negative zone in intra-day deals on Tuesday.
Revenue from operations rose 31.8% to 6.66 billion rupees, with revenue from Policybazaar and Paisabazaar, its core online business, growing 39% to 5.16 billion rupees
The stock of fintech company was trading at its highest level since May 2022.
Yashish Dahiya intends to offload partial stake via bulks deals on the exchanges. He currently holds 24.52 million shares in the company.
On Monday, November 15, 2021, Capital Research And Management Co A/C New World Fund Inc had purchased 3.41 million equity shares at price of Rs 1,192.96 per share.
The stock listed at Rs 1,150, a 17 per cent premium over to its issue price of Rs 980 per share on the BSE.
A total of 26.2 million shares have been allocated to over 150 funds at Rs 980 per share
The company is looking to raise Rs 5,700 crore at a Rs 44,000-crore valuation
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