Page 3 - Policybazaar

SoftBank fully exits Policybazaar parent, collects $650 mn in returns

SoftBank had invested about $200 million in PB Fintech. In Dec 2023, Softbank's arm SVF Python II (Cayman) divested a 2.5 per cent stake in Policybazaar's parent firm PB Fintech for Rs 914 crore

Softbank divests 2.5% stake in Policybazaar's parent firm worth Rs 914 cr

Japanese conglomerate Softbank's arm Svf Python II (Cayman) on Friday divested a 2.5 per cent stake in Policybazaar's parent firm PB Fintech for Rs 914 crore through open market transactions. HDFC Mutual Fund (MF), Mirae Asset MF, ICICI Prudential Life Insurance, Societe Generale, Capital Group, The Master Trust Bank of Japan, Government Pension Fund Global, Goldman Sachs, and China's Best Investment Corporation, among others, were the buyers of the shares. Following the share sale, shares of PB Fintech fell 2.31 per cent to close at Rs 789.45 apiece on the BSE. Svf Python II (Cayman) Ltd offloaded a total of 1,14,21,212 shares in 10 tranches, amounting to 2.54 per cent, in PB Fintech, as per the block deal data available with the BSE. The shares were sold at an average price of Rs 800.05 apiece, taking the aggregate deal value to Rs 913.75 crore. After the latest transaction, Softbank's shareholding has declined to 1.85 per cent from 4.39 per cent stake in PB Fintech. In October

Increased awareness, digital threat drives cyber insurance demand

Cyber-attacks on rise post pandemic; Nearly 40% growth in cyber policies in 2023

There's distrust regarding claim settlements: PolicyBazaar's Yashish Dahiya

Ritesh Kumar of HDFC Ergo said, "At the core, health insurance needs to be affordable. It's a complex problem as we are a regulated industry but the provider (health service) is not regulated."

Table: Fixed deposit schemes offered by various finance companies

Credit ratings for the schemes are mostly 'stable', according to Paisabazaar table

Health insurance for NRIs: Check geographical coverage, sum insured

Currency fluctuations could affect value of premiums and claims

Stocks to Watch today: Rate sensitives, PB Fintech, Vedanta, IndiGo, GCP

Stocks to Watch on Friday, October 6, 2033: SoftBank Group is likely to sell shares worth up to $105 million in PB Fintech via block deals

Table on personal loan rates and terms of various companies

If you need a personal loan anytime soon, consider the table by Paisabazaar.com for your needs.

Table explaining health insurance plans offered by various companies

Key features of schemes and their premium rates explained

Why India must put a premium on affordable healthcare for its citizens

Millions depend on health insurance. Comprehensive coverage for diseases and medical procedures ensures that policyholders pay only for what they need

HC refuses to restrain use of PolicyBazaar trade marks on Google AdWords

The Delhi High Court has rejected a plea by Policybazaar, an aggregator of insurance products, seeking to restrain the use of key words identical to its trade marks on Google's AdWords Program by other entities. Justice Navin Chawla, while dealing with Policybazaar's plea against the alleged use of its trademark by Coverfox Insurance Broking Pvt Ltd and Acko General Insurance Ltd on the Adwords Program, said prima facie no case of infringement was made out. Plaintiff Policybazaar, in its lawsuits against Coverfox and Acko, claimed that the defendant companies were using key words identical to the Policybazaar marks like "Policy Bazaar", "PolicyBazaar" and "Policy Bazar" with the intent of diverting business from its website by causing confusion. The court, in its interim order, said the suits were based on the allegations of mere use of the registered trademarks of Policybazaar as key words by the defendants in the AdWords Program and the mere appearance of the websites of the ...

Paytm, Zomato: Analysts cautious on new-age stocks on expensive valuations

Zomato, for instance, has been the only new-age company which has achieved profitability in the April-June quarter (Q1) of the current financial year (FY24)

Table on rates and terms for health insurance polices in market

After purchasing a policy, do not surrender it midway through tenure

PB Fintech down 5% in 2 days on Bima Sugam worry; analysts say buy the dip

The selling in PB Fintech (Policybazaar) shares, analysts feel, is overdone as the owner of the online insurance portal remains committed to achieving profitability

PB Fintech sheds 4% even as Q1 net loss narrows to Rs 12 cr

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.

PB Fintech's net loss narrows to $1.4 mn in Q1 on loan, insurance demand

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

Relying solely on corporate health insurance plan can impact your finances

Supplement it with a retail plan with adequate sum insured, and no room rent or disease-wise capping

PolicyBazaar hits fresh 52-week high; stock nearly doubles from 52-week low

The stock of fintech company was trading at its highest level since May 2022.

PB Fintech to wipe out accumulated losses in next 4 years on revenue growth

PB Fintech, the parent firm of Policybazaar, expects to wipe out accumulated losses in the next four years on the back of revenue growth, a top official said. The total revenue of the company increased to Rs 1,710 crore in FY23 from Rs 1,200 crore in the preceding fiscal. As a result, the loss narrowed to Rs 488 crore from Rs 833 crore in the previous fiscal. "FY24, our hope is EBITDA coming out of core business will be more than enough to cover all investments and overall, as a company, we should be PAT positive for the full year. What we want is Rs 1,000 crore PAT by FY27. Three years from now. "In another four years, we should be able to wipe out our accumulated losses. Between, FY 27-28, we should be able to wipe out losses," PB Fintech chairman and group CEO Yashish Dahiya told PTI. The breakeven will be reached only after accumulated losses are wiped out. This year, he said, the company would be Rs 400-500 crore cash positive and therefore, there may not be any need for ...

Tencent Cloud Europe offloads 2 pc stake in PB Fintech for Rs 562 cr

Tencent Cloud Europe BV on Friday offloaded over 2 per cent shares of Policybazaar's parent firm PB Fintech for Rs 562 crore through an open market transaction. According to the bulk deal data available with the BSE, Tencent Cloud Europe BV sold 94,16,250 shares, amounting to a 2.09 per cent stake in the firm. The shares were disposed of at an average price of Rs 596.66 apiece, taking the transaction value to Rs 561.82 crore. As per the latest transaction, Tencent's shareholding has reduced to 6.28 per cent from 8.37 per cent (as of March 2023) equity in PB Fintech. On Friday, shares of PB Fintech fell 2.85 per cent to close at Rs 604.65 per piece on the BSE.