POLICYBZR

shares crash over 8% ; 2.5% equity changes hands in two block deals

Shares of PB Fintech, the parent company of digital insurance marketplace Policybazaar and credit marketplace Paisabazaar, crashed 8.74 per cent in intra-day trade to Rs 1544.45 on Friday, July 3, amid heavy volume and reports of likely two large block deals. Nearly 1.16 crore shares, representing around 2.5 per cent of the company's equity, were traded through two block deals during the session. The transaction comes after reports that MacRitchie Investments, an investment holding company that operates as an indirect wholly-owned subsidiary of Singapore's state investment firm Temasek Holdings, is planning to sell up to $200 million worth of shares in PB Fintech, according to a term sheet seen by Reuters on ⁠Thursday.