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The order, issued on March 26 under Section 26(3) of the Act, pertains to the adjudication stage of proceedings against alleged benami properties.
According to its consolidated financial results, PB Fintech reported a 50% quarter-on-quarter decline in net profit.
Following the transaction, PB Fintech's Yashish Dahiya's stake dropped from 4.31% to 3.57%, while Alok Bansal’s holding declined to 1.04% from 1.40%.
The Gurugram-based company generated the largest share of its operating revenue from insurance broker services, which rose to Rs 4,298 crore in FY25.
Following this round, PB Fintech’s holding in PB Healthcare will decline from 100% to 32.14% due to the entry of external investors.
In March 2024, the company announced incorporation of a wholly owned subsidiary under the name of 'PB Pay' to carry on the business of payment aggregator.
PB Fintech would be holding up to 33.63% of PB Healthcare on a fully diluted basis.
PB Fintech, parent entity of Policybazaar and Paisabazaar, has settled a case of alleged insider trading with Sebi by paying Rs 9.4 lakh as settlement amount.
Santosh Agarwal, who is currently the chief business officer of life insurance at Policybazaar, will take over as Paisabazaar CEO.
Insurance broking remained majority revenue driver at Rs 1,132 crore during Q3 FY25 from Rs 697 crore in Q3 FY24.
PB Fintech will subscribe to 50,000 shares at a face value of Rs 10 per share aggregating to Rs 5 lakh, and will retain 100% ownership of the proposed entity.
The company posted a net profit of Rs 51 crore in the September quarter compared to Rs 60 crore profit recorded in the June quarter.
