Shares of PB Fintech surged more than 7.33 per cent to Rs 1,400, hitting its new 52-week high and commanding a total market capitalization of more than Rs 63,000 crore.
In March, the promoter of PB Fintech approved the incorporation of PB Pay, which was created to conduct the business of payment aggregator with a paid-up capital of Rs 27 crore.
PB Fintech: The transaction is done at arm’s length basis, PB Fintech said adding that the arm is professionally managed company with no identifiable promoter.
In December 2022, SoftBank had offloaded 5.1 per cent stake in PB Fintech via SVF India Holdings (Cayman) for Rs 1,043 crore. SVF India Holdings (Cayman) had sold 2,28,42,424 shares at an average price of Rs 456.4 apiece.