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Singaporean sovereign wealth fund Temasek Holdings on Thursday sold its entire 5.42 per cent stake in Policybazaar's parent firm PB Fintech for Rs 2,425 crore through open market transactions. Temasek Holdings' wholly-owned subsidiary Claymore Investments (Mauritius) Pte Ltd sold the shares of PB Fintech in three tranches on the BSE.
Temasek Holdings' subsidiary Claymore Investments sells a total of 2,44,30,015 shares of PB Fintech, representing a 5.42% stake, at an average price of ₹992.8 apiece.
SoftBank had invested close to $200 million in PB Fintech and sold its remaining stake in a mid-December transaction for about Rs 914 crore (or $109 million).
In December 2023, SoftBank sold a 2.5 per cent stake in PolicyBazaar's parent firm PB Fintech for Rs 914 crore through open market transactions.
Noteworthy buyers in this strategic move included prominent entities such as HDFC Mutual Fund, Mirae Asset Mutual Fund, ICICI Prudential Life Insurance, Societe Generale, Capital Group, The Master Trust Bank of Japan, Government Pension Fund Global, Goldman Sachs and China's Best Investment Corporation, , softbank, PB Fintech