Tencent halves stake in PB Fintech via Rs 695 Cr block deal

Tencent Cloud Europe BV, an affiliate of Chinese internet giant Tencent, offloaded a portion of its stake in PB Fintech, the parent company of Policybazaar and Paisabazaar, through a block deal on Friday.

According to bulk deal data on the stock exchange, Tencent Cloud Europe BV sold 48,40,439 shares of PB Fintech at Rs 1,435.10 per share, taking the total transaction value to around Rs 694.65 crore.

Prior to the transaction, Tencent Cloud Europe held 97,48,750 shares, representing 2.12% stake in PB Fintech. Following the block deal, its holding reduced to 49,08,311 shares, or 1.06% in the company.

Several institutional investors participated in the block deal. DSP Mutual Fund acquired 3,25,643 shares worth Rs 46.73 crore, while Mirae Asset Mutual Fund purchased 9,00,000 shares valued at Rs 129.15 crore.

Meanwhile, Goldman Sachs entities were among the largest buyers in the transaction. Goldman Sachs Bank Europe SE bought 7,01,249 shares worth Rs 100.63 crore, while Goldman Sachs Bank Europe SE – ODI picked up 5,64,508 shares amounting to Rs 81 crore.

Other buyers included Schroder Asian Alpha Plus Fund, which purchased 3,46,958 shares worth Rs 49.8 crore, and Schroder AsiaPacific Fund PLC, which bought 2,57,081 shares valued at Rs 36.9 crore.

Société Générale (ODI) and Tata Mutual Fund acquired 7,00,000 shares (Rs 100.45 crore) and 3,45,000 shares (Rs 49.5 crore), respectively. Viridian Asia Opportunities Master Fund also bought 7,00,000 shares for Rs 100.45 crore.

This move comes after PolicyBazaar’s quarterly result announcement, in which its revenue increased 32.5% to Rs 1,711 crore in Q3 FY26, while its net profits surged 2.6X to Rs 189 crore in the same period.

At the end of the day, PolicyBazaar traded at Rs 1,433.5 with a total market capitalization of Rs 66,327 crore (approximately $7.2 billion).