PB Fintech Limited made further investment of ₹349,99,99,904/- (Rupees Three Hundred Forty Nine Crores Ninety Nine Lakh Ninety Nine Thousand Nine Hundred Four Only) in Policybazaar Insurance Brokers Private Limited, a wholly owned subsidiary of the Company.
As part of company's investments, the present Investment allows Company to strengthen the financial health of its mentioned wholly-owned subsidiary to meet its general operating expenses and enhancing brand awareness, office presence and strategic initiatives.
Policybazaar was incorporated on September 25, 2014 under the Companies Act, 2013 and carries on the business of Insurance Broker Direct (Life and General) under the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018.
Shares of PB Fintech Ltd was last trading in BSE at Rs. 823.75 as compared to the previous close of Rs. 803.80. The total number of shares traded during the day was 38286 in over 2487 trades.
The stock hit an intraday high of Rs. 825.05 and intraday low of 803.80. The net turnover during the day was Rs. 31343902.00.