Tencent Cloud Europe BV Reduces Stake in PB Fintech

Tencent Cloud Europe BV, a subsidiary of the well-known Chinese internet company Tencent, has decreased its investment in PB Fintech, the parent company of Policybazaar and Paisabazaar, via a block deal on Friday. According to stock market data regarding bulk deals, Tencent Cloud Europe BV disposed of 4,840,439 shares of PB Fintech at a price of Rs 1,435.10 per share, resulting in an overall transaction value of approximately Rs 694.65 crore.

Details of Tencent’s Holdings

Before this transaction, Tencent Cloud Europe possessed 9,748,750 shares, which represented a 2.12% shareholding in PB Fintech. Following this block deal, their ownership decreased to 4,908,311 shares, equating to a 1.06% stake in the company. A number of institutional investors were involved in this block deal.

Participation of Institutional Investors

DSP Mutual Fund secured 325,643 shares valued at Rs 46.73 crore, while Mirae Asset Mutual Fund acquired 900,000 shares for Rs 129.15 crore. Additionally, entities from Goldman Sachs emerged as significant purchasers during the transaction. Goldman Sachs Bank Europe SE obtained 701,249 shares worth Rs 100.63 crore, and another division, Goldman Sachs Bank Europe SE – ODI, bought 564,508 shares amounting to Rs 81 crore.

Other Buyers in the Block Deal

Other notable buyers included Schroder Asian Alpha Plus Fund, which purchased 346,958 shares for Rs 49.8 crore, and Schroder AsiaPacific Fund PLC, acquiring 257,081 shares worth Rs 36.9 crore. Furthermore, Société Générale (ODI) and Tata Mutual Fund picked up 700,000 shares (Rs 100.45 crore) and 345,000 shares (Rs 49.5 crore), respectively. Viridian Asia Opportunities Master Fund also acquired 700,000 shares valued at Rs 100.45 crore.

Impact of Recent Financial Results

This strategic move follows the announcement of PolicyBazaar’s recent quarterly results, showcasing a revenue increase of 32.5% to Rs 1,711 crore in Q3 FY26. Simultaneously, their net profits saw a significant surge, climbing 2.6 times to Rs 189 crore during the same period. As of the close of trading, PolicyBazaar’s shares were priced at Rs 1,433.5, leading to a total market capitalisation of Rs 66,327 crore, approximately $7.2 billion.