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Kotak Mahindra Capital is the banker handling the share sale, reports said. As of June-end, SoftBank, through its entity SVF Python II ( Cayman) Ltd, held a 4.39% stake in PB Fintech.
SoftBank which was one of the early investors in India's tech companies, has been gradually paring stakes in the firms. Earlier in August, it had sold 1.17% in Zomato through bulk deals. Prior to that in July, SoftBank had offloaded about 2% stake in Paytm. In May, SoftBank sold 2.07% stake in the fintech major through a series of open market transactions.
As per the block deal data available on the National Stock Exchange (NSE), SVF India Holdings (Cayman) sold 30,97,576 shares and SVF Python II (Cayman) disposed of 83,23,635 shares, amounting to a 0.7% and 1.8% stake in PB Fintech, respectively.
Get latest articles and stories on Latest News at LatestLY. Japanese conglomerate Softbank on Friday offloaded a 2.5 per cent stake in Policybazaar's parent firm PB Fintech through open market transactions for Rs 871 crore. Latest News | Softbank Offloads 2.5 Pc Stake in PB Fintech for Rs 871 Cr.
Data available from stock exchange shows SVF India Holdings (Cayman) Ltd sold 2.2 crore shares at Rs 456.40 apiece