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SoftBank likely to sell shares worth up to $105 million in PB Fintech: report

Economic Times

Economic Times · 1y ago

SoftBank likely to sell shares worth up to $105 million in PB Fintech: report

SoftBank is considering selling shares worth up to $105 million in PB Fintech, the parent company of PolicyBazaar, as it looks to monetize its investments and shore up its finances, according to a report. SoftBank has been hit hard by investments like WeWork and Uber and is now aiming to bring its balance sheet back on track. The potential deal comes as PolicyBazaar is preparing for an IPO later this year.

Related News

SoftBank took home $1.8-1.9 billion from four listed portfolio companies

Economic Times

Economic Times · 1y ago

SoftBank took home $1.8-1.9 billion from four listed portfolio companies

SoftBank, despite refraining from new startup funding in India, still holds $1.1-1.2 billion in shares from its listed portfolio companies. The Japanese investor has sold $1.8-1.9 billion in stakes through public offerings and post-listing sales in Indian startups like Paytm, Zomato, PB Fintech, and Delhivery. SoftBank's strategy aligns with a slowdown in new investments, focusing on secondary sales. With upcoming IPOs of Ola Electric and FirstCry, SoftBank is set to sell stakes worth approximately $180 million and $45-50 million, respectively. SoftBank has invested $15 billion in India, playing a significant role in over 100 unicorns.

PB Fintech’s top two executives plan to sell 1.86% stake

Livemint

Livemint · 1y ago

PB Fintech’s top two executives plan to sell 1.86% stake

Yashish Dahiya, chairman and CEO, and Alok Bansal, vice-chairman of PB Fintech, the parent company of Policybazaar, are looking to sell a combined stake of 1.86% in the company. Dahiya will sell up to 54 lakh shares, while Bansal will sell up to 29.7 lakh shares at a floor price of ₹1,258 per share. The estimated total deal value is ₹1,053 crore. The sale is managed by Morgan Stanley. This follows the exit of major shareholder Temasek Holdings earlier this year. PB Fintech recently posted strong Q4 results, with a surge in net profit and revenue.

SoftBank, TPG, PremjiInvest, NewQuest to make partial exit in FirstCry IPO

VCCircle

VCCircle · 1y ago

SoftBank, TPG, PremjiInvest, NewQuest to make partial exit in FirstCry IPO

Indian baby products retailer FirstCry's IPO will see major stakeholders, including SoftBank, TPG, PremjiInvest, and NewQuest, sell part of their stakes. SoftBank, the largest shareholder, will sell around 20.32 million shares, while TPG and NewQuest plan to offload approximately 3.9 million and 3 million shares respectively. PremjiInvest will sell 8.6 million shares. The IPO will also include fresh shares worth $218 million being issued by FirstCry. The funds raised will be used for expansion and business growth.

Tencent To Offload 2.1% Stake In PB Fintech For INR 1,610 Cr

Inc42 · 1y ago

Tencent To Offload 2.1% Stake In PB Fintech For INR 1,610 Cr

Tencent plans to sell shares of PB Fintech, the parent company of PolicyBazaar, at a discount of more than 4% to the stock's last closing price. This move comes after PB Fintech's chairman and CEO, Yashish Dahiya, and vice chairman, Alok Bansal, sold a significant number of shares a few months ago. PB Fintech's shares have seen a significant increase, up 115% this year and over 129% in the past 12 months.

SoftBank’s stake sale continues, offloads 1.14 Cr PB Fintech shares worth INR 914 Cr

Inc42 · 1y ago

SoftBank’s stake sale continues, offloads 1.14 Cr PB Fintech shares worth INR 914 Cr

SoftBank has sold 2.53% of its stake in PB Fintech through multiple block deals, totaling to INR 913.7 Cr. Following the sale, SoftBank is now expected to hold 83.23 Lakh shares in the company. The shares were purchased by Societe Generale, HDFC Mutual Fund, Goldman Sachs, ICICI Prudential Life Insurance, and others. This stake sale comes after SoftBank's recent offloading of shares in Zomato. PB Fintech has been witnessing improvements in its financials, with a significant decline in net loss and consecutive positive quarters of adjusted EBITDA.

PB Fintech CEO Yashish Dahiya, Vice Chairman Alok Bansal To Offload Stake In Co

Inc42 · 1y ago

PB Fintech CEO Yashish Dahiya, Vice Chairman Alok Bansal To Offload Stake In Co

Top executives of PB Fintech, Yashish Dahiya and Alok Bansal, have announced plans to sell a total of 8.37 million shares in the company. Dahiya plans to sell 5.4 million shares, while Bansal intends to sell 2.97 million shares. The sale is expected to generate approximately INR 1,053 crore ($142 million) at a floor price of INR 1,258 per share. The proceeds will be used to pay taxes on current and future employee stock option plan exercises.

SoftBank fully exits Policybazaar parent fetching $650 million in returns

Economic Times

Economic Times · 1y ago

SoftBank fully exits Policybazaar parent fetching $650 million in returns

Japanese technology investor SoftBank has made a full exit from PB Fintech, the parent company of insurance marketplace PolicyBazaar. SoftBank had invested close to $200 million in PB Fintech and sold its remaining stake for about $109 million, making a total of $650 million in returns on its investment. This is part of SoftBank's strategy of diluting its holdings through public market deals. SoftBank has invested $15 billion in India so far and has funded nearly a fifth of the country's unicorns.

HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

Inc42 · 1y ago

HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

Japanese tech investor SoftBank has reportedly sold a portion of its stake in FirstCry, an IPO-bound ecommerce unicorn, for $310 million. The shares were acquired by several high-net-worth individuals (HNIs), valuing FirstCry at a range of $3.5 billion to $3.75 billion. SoftBank still holds shares worth $800 million to $900 million, which it plans to sell at a later date. SoftBank aims to bring its stake in the company below 26% to avoid being classified as a promoter. FirstCry is preparing to file its draft red herring prospectus (DRHP) by December 29 for an IPO, targeting a valuation of $4 billion.

SoftBank offloads 2.5% stake in PB Fintech for Rs 871 crore

Economic Times

Economic Times · 1y ago

SoftBank offloads 2.5% stake in PB Fintech for Rs 871 crore

Japanese conglomerate SoftBank has sold a 2.5% stake in PB Fintech, the parent firm of Policybazaar, through open market transactions for Rs 871 crore. The shares were purchased by Tata Mutual Fund, Kotak MF, Societe Generale, and other buyers. This follows SoftBank's divestment of a 5.1% stake in Policybazaar for Rs 1,043 crore in December 2022. PB Fintech operates online insurance platform Policybazaar and credit comparison portal Paisabazaar.

SoftBank likely to sell stake worth $150 million in India's Delhivery: report

Economic Times

Economic Times · 1y ago

SoftBank likely to sell stake worth $150 million in India's Delhivery: report

According to a report, SoftBank is planning to sell its stake worth $150 million in Indian logistics company Delhivery. The move is part of SoftBank's broader strategy to reduce its exposure to the Indian startup ecosystem as it faces financial challenges due to its investments in companies like WeWork. SoftBank is expected to sell the stake to a single buyer. Delhivery is one of India's largest logistics companies, providing services like last-mile delivery and warehousing.

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