Tencent offloads 1.05% stake in PB Fintech for Rs 805 Cr via block deal
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Startup Spotlight India
- May 9, 2026
Tencent, the Chinese technology giant, has sold a 1.05% stake in PB Fintech, the parent company of PolicyBazaar, for Rs 805.45 crore (around $85 million) through a block deal on the National Stock Exchange (NSE).
As per stock exchange filings, Tencent, via its subsidiary Tencent Cloud Europe BV, offloaded 48.4 lakh shares at a price of Rs 1,664 per share. Earlier in March this year, the company had also divested a 1.06% stake in PB Fintech through the same entity for Rs 695 crore.
The block deal attracted multiple institutional investors. Morgan Stanley emerged as the biggest buyer, purchasing 21.4 lakh shares worth Rs 356.2 crore. Societe Generale acquired 10.76 lakh shares valued at nearly Rs 179 crore, while Ghisallo Master Fund LP picked up 7.93 lakh shares worth around Rs 132 crore.
Among domestic investors, HDFC Mutual Fund and Tata AIA Life Insurance also participated in the transaction, buying shares valued at Rs 83.2 crore and Rs 55 crore, respectively.
As of March 31, 2026, Tencent held nearly 7.52% stake in PB Fintech through two entities — Tencent Cloud Europe B.V. and Macritchie Investments Pte Ltd. With the latest transaction, the company has now completely exited its investment through the Tencent Cloud Europe B.V. arm.
On the business front, PB Fintech posted a 37% year-on-year jump in operating revenue to Rs 2,061 crore during the quarter. Its net profit also grew 54% to Rs 261 crore compared to the same period last year.
PB Fintech shares ended Friday’s trading session at Rs 1,647.9 apiece, giving the company a total market valuation of Rs 76,247 crore, or nearly $8 billion.
