VC fund Tiger Global Management sold 3.57% stake in Policybazaar’s parent firm PB Fintech through the open market.
The venture capital fund raised just under INR 606 Cr by selling 1.6 Cr shares for INR 374.09 to INR 388.34 each. Through its funds Tiger Global Eight Holdings and Internet Fund III, Tiger Global held a 7.1% stake as of Q2 FY23. In the open market, the former sold a stake worth 2.84% and the latter sold a stake worth 0.73%. In November 2021, PB Fintech listed at INR 1,150, and since then, it has destroyed almost 60% of investor wealth.
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VC fund Tiger Global Management sold 3.57% stake in Policybazaar’s parent firm PB Fintech through the open market.
The venture capital fund raised just under INR 606 Cr by selling 1.6 Cr shares for INR 374.09 to INR 388.34 each. Through its funds Tiger Global Eight Holdings and Internet Fund III, Tiger Global held a 7.1% stake as of Q2 FY23. In the open market, the former sold a stake worth 2.84% and the latter sold a stake worth 0.73%. In November 2021, PB Fintech listed at INR 1,150, and since then, it has destroyed almost 60% of investor wealth.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
