Shares of PolicyBazaar dropped over 2 per cent from its day's high at Rs 631.45 on Monday to Rs 618.55, commanding a market capitalization of Rs 28,000 crore on Monday.
The parent company of Policybazaar and Paisabazaar, PB Fintech, reported a consolidated net loss of ₹87 Cr in Q3FY23 compared to a net loss of ₹298 Cr in Q3FY22.
PB Fintech saw a total of 2,28,42,424 shares changing hands in a block deal, amounting to Rs 1,042.52 crore. SoftBank Group was expected to sell a 5 per cent stake in the company today
PB Fintech stock surged 5.09% to an intraday high of Rs 454.35 against the previous close of Rs 432.20 on BSE. Earlier, the stock opened with a gain of 2.97% at Rs 445.05 today