PB Fintech shares are down over 8% from their 52-week high after Singaporean sovereign wealth fund Temasek Holdings on Thursday offloaded its entire 5.42 per cent stake in the firm for Rs 2,425 crore in a block deal.
PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, saw its shares surpass the IPO price after a two-year period as investors responded positively to its strong Q3FY24 performance.
Shares of PolicyBazaar have turned multibagger from its 52-week lows. The stock rallied 130 per cent to Rs 816, its 52-week highs on Tuesday, from its lowest levels of Rs 356.2 in November 2022.