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Morgan Stanley sells Rs 18 crore worth shares in Policybazaar parent
03 Jul 2025, 04:26 PMThe development comes few days after PB Fintech co-founders Yashish Dahiya and Alok Bansal dumped Rs 900 crore worth of shares.
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Morgan Stanley has sold nearly 1 lakh shares of PB Fintech at a Rs 1,819 apiece on Monday. The 99,994 shares were offloaded via Morgan Stanley Asia (Singapore) Pte in a Rs 18 crore block deal.
French financial services firm BNP Paribas was a buyer.
The development comes few days after PB Fintech co-founders Yashish Dahiya and Alok Bansal dumped 1.09% stake in the company through open market deals, fetching Rs 919.86 crore. The shares were sold at an average price of Rs 1,821.50 a piece.
According to NSE block deal data, Dahiya, the company's CEO, sold 34 lakh shares in two tranches, amounting to a 0.74% stake. Vice Chairman Bansal offloaded 16.5 lakh shares (0.36% stake) in the Gurugram-based company, which owns insurtech platform Policybazaar and fintech platform Paisabazaar.
The buyers included a mix of domestic and global investors. Tata Mutual Fund, Edelweiss Life Insurance, HDFC Life, ICICI Prudential Life, and Subhkam Ventures participated in the purchase.
International firms such as Ghisallo Capital Management, Citigroup Global Markets Mauritius, Goldman Sachs, Morgan Stanley Asia (Singapore), Societe Generale, WFM Asia, System Two Advisors, and Viridian AM also picked up shares.
PB Fintech had launched its Rs 5,710-crore IPO in November 2021, during which the founders and early shareholders had already pared some of their holding.
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