The company that owns Policy Bazaar, PB Fintech Ltd, shares surged 5% on 6 June after a 0.73% stake changed hands on the exchanges via block deal. 

After a significant deal worth Rs 428.10 crore was completed on the exchanges on 6 June, shares of PB Fintech increased by more than 5% in the first trading session.

In a significant transaction, about 33 lakh shares, or 0.73% of the firm, were traded. The average price at which the sale was closed was Rs 1,297 per share, which is marginally higher than the stock’s closing price of Rs 1,293.35.

Last month, the business completed two more noteworthy share transactions in addition to the massive PB Fintech purchase. The PB Fintech chairman, Yashish Dahiya, and vice-chairman, Alok Bansal, first sold 83.7 lakh shares, or 1.86% of the business, in two block sales.

Following that, Tencent Cloud Europe made Rs 677 crore by selling a 1.2% stake sin the company.

Prominent brands, including SoftBank, Tencent, Temasek Holdings, and BNP Paribas, have sold their shares in the parent company of Policy Bazaar during the last year in an attempt to profit from the dramatic increase in the stock’s value. The value of PB Fintech shares has increased by almost 100% in the last 12 months.

At 3:23 pm, the shares of PB Fintech shed all its ealy gains and were trading 0.44% lower at Rs 1,287.65 on NSE.