Tencent Exits PB Fintech With ₹805 Cr Block Deal

by · Inc42

SUMMARY

  • As per NSE data, the Chinese company’s affiliate entity Tencent Cloud Europe BV offloaded 48.4 Lakh shares of PB Fintech at ₹1,664 apiece to rake in the sum
  • The offloaded shares that flooded the market were lapped up by HDFC Mutual Fund, Morgan Stanley, Societe Generale, Tata AIA Life Insurance Company and others
  • Tencent first invested in PB Fintech back in 2019, buying a minority stake in the insurtech startup for about $150 Mn