PB Fintech said that it will file an application for floating the new healthcare-focussed entity on a later date

This comes two months after group CEO Yashish Dahiya said that PB Fintech would make a one-time investment of $100 Mn to acquire a 30% stake in a new healthcare company

The insurtech company reported a net profit of INR 51 Cr in Q2 FY25 as against a net loss of INR 21.11 Cr in the year-ago period

Insurtech major PB Fintech has received the approval of its board to incorporate a new subsidiary to offer healthcare services.

“… The board of directors of PB Fintech Limited through a circular resolution passed on December 03, 2024 has approved the incorporation of the wholly owned subsidiary… to carry on the business of healthcare services,” the insurtech major said in a filing with the BSE.

PB Fintech also said that it will file an application for floating the new healthcare-focussed entity on a later date, adding that the process of incorporation would be completed post approvals from relevant authorities. 

The listed insurtech platform, along with other nominees of the company, will initially subscribe to 50,000 equity shares of the new entity at a face value of INR 10 each. 

This comes two months after PB Fintech chairman and group CEO Yashish Dahiya said that the company is considering making a foray into the healthcare space and would make a one-time investment of $100 Mn to acquire a 30% stake in a new healthcare company.

At the time, he cited issues related to affordability of healthcare in the country for middle-class families. He said that PB Fintech would look to bridge the gap between hospitals and insurance companies.

However, markets reacted sharply to the announcement. The stock tumbled as much as 10% during intraday trading on September 26 after Dahiya hinted at the company’s new experiment. However, shares bounced back strongly on September 30 after he officially confirmed the development to a publication. 

Meanwhile, brokerage firm Bernstein earlier expressed caution over PB Fintech’s healthcare plans, saying that the foray would be a “sharp departure from the company’s current asset-light model to a more asset-heavy space”.

On the financial front, PB Fintech continues to scale up its profits. The company reported a net profit of INR 51 Cr in the second quarter (Q2) of the fiscal year 2024-25 (FY25) as against a net loss of INR 21.11 Cr in the year-ago period. Revenue from operations jumped more than 43% to INR 1,167.2 Cr during the quarter under review from INR 811.6 Cr in Q2 FY24. 

Shares of the company ended Tuesday’s (December 3) trading session 1.91% lower at INR 1,927.30 on the BSE.

PB Fintech said that it will file an application for floating the new healthcare-focussed entity on a later date

This comes two months after group CEO Yashish Dahiya said that PB Fintech would make a one-time investment of $100 Mn to acquire a 30% stake in a new healthcare company

The insurtech company reported a net profit of INR 51 Cr in Q2 FY25 as against a net loss of INR 21.11 Cr in the year-ago period

Insurtech major PB Fintech has received the approval of its board to incorporate a new subsidiary to offer healthcare services.

“… The board of directors of PB Fintech Limited through a circular resolution passed on December 03, 2024 has approved the incorporation of the wholly owned subsidiary… to carry on the business of healthcare services,” the insurtech major said in a filing with the BSE.

PB Fintech also said that it will file an application for floating the new healthcare-focussed entity on a later date, adding that the process of incorporation would be completed post approvals from relevant authorities. 

The listed insurtech platform, along with other nominees of the company, will initially subscribe to 50,000 equity shares of the new entity at a face value of INR 10 each. 

This comes two months after PB Fintech chairman and group CEO Yashish Dahiya said that the company is considering making a foray into the healthcare space and would make a one-time investment of $100 Mn to acquire a 30% stake in a new healthcare company.

At the time, he cited issues related to affordability of healthcare in the country for middle-class families. He said that PB Fintech would look to bridge the gap between hospitals and insurance companies.

However, markets reacted sharply to the announcement. The stock tumbled as much as 10% during intraday trading on September 26 after Dahiya hinted at the company’s new experiment. However, shares bounced back strongly on September 30 after he officially confirmed the development to a publication. 

Meanwhile, brokerage firm Bernstein earlier expressed caution over PB Fintech’s healthcare plans, saying that the foray would be a “sharp departure from the company’s current asset-light model to a more asset-heavy space”.

On the financial front, PB Fintech continues to scale up its profits. The company reported a net profit of INR 51 Cr in the second quarter (Q2) of the fiscal year 2024-25 (FY25) as against a net loss of INR 21.11 Cr in the year-ago period. Revenue from operations jumped more than 43% to INR 1,167.2 Cr during the quarter under review from INR 811.6 Cr in Q2 FY24. 

Shares of the company ended Tuesday’s (December 3) trading session 1.91% lower at INR 1,927.30 on the BSE.