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Insurance premium generated through the platform grew 41% year-on-year to Rs 8,372 crore, driven by strong growth in health and protection insurance segments.
Several institutional investors picked up the shares, including Goldman Sachs, Morgan Stanley, Societe Generale, Kotak Securities, Tata Mutual Fund and BNP Paribas.
The approval for the stock broking business covers fixed-income instruments like corporate bonds, government securities, and treasury bills.
The company's net profit increased to Rs 261 crore in during the quarter from Rs 170 crore in Q4 FY25.
The company's net profit soared 163% to Rs 189 crore in during the quarter ended December.
The stock option grant was cleared by the company's Nomination and Remuneration Committee for distribution among eligible employees.
PB Fintech's net profit grew 2.6x to Rs 134.8 crore in the July-September quarter.
In today's newsletter we have our take on Sahil Kini's shift from startup founder to policymaker, and India's journey towards potentially becoming the third pole in the AI universe.
A major violation involved the company's failure to inform regulators about key leadership personnel holding board positions at other firms.
According to its consolidated financial results, PB Fintech reported a 50% quarter-on-quarter decline in net profit.
The comprehensive artificial intelligence strategy is aimed at achieving America's dominance in the global AI sector.
The development comes few days after PB Fintech co-founders Yashish Dahiya and Alok Bansal dumped Rs 900 crore worth of shares.
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.
