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As many as 50.5 Lakh shares of PB Fintech reportedly changed hands in the pre-open block deal window today.
The shares changed hands at a price of INR 1,821.50 per share, taking the total transaction value to INR 920 Cr. The number of shares that changed hands aggregate to 1.1% of the total outstanding equity of PB Fintech.
Buyers and sellers in the transaction are not officially known.
A CNBC-TV18 report yesterday said that PB Fintech cofounders Yashish Dahiya and Alok Bansal, are likely to sell 5.05 Mn shares, or 1.1% of the company’s equity, through a block deal valued at approximately $106 Mn.
The deal terms also include a 90-day lock-in period for the sellers, sources told CNBC-TV18.
Shares of PB Fintech slumped close to 2% on the block deal buzz and the company’s market volume was 20 Lakh at 2 PM.
At the same time, PB Fintech’s market capitalisation stood at INR 2,254.95 Cr.
Inc42 has reached out to PB Fintech for comments on the development. The story will be updated based on the responses.
The post Block Deal Buzz: PB Fintech Shares Worth INR 920 Cr Change Hands appeared first on Inc42 Media.
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