China's Tencent cuts stake in Policybazaar parent PB Fintech in Rs 695 crore block deal

Chinese internet giant Tencent has reduced its stake in PB Fintech, the parent company of Policybazaar and Paisabazaar, through a block deal worth Rs 694.65 crore, with several domestic and global institutional investors picking up the shares.

According to bulk deal data on the stock exchanges, Tencent Cloud Europe BV sold 48,40,439 shares of PB Fintech at a price of Rs 1,435.10 per share on March 6.

The transaction represents about 1.04% of the company’s paid-up equity. Following the sale, Tencent Cloud Europe’s holding in PB Fintech declined from 97,48,750 shares, or 2.12% stake, to 49,08,311 shares, representing 1.06%.

Several institutional investors participated in the block deal and acquired the shares sold by Tencent. Goldman Sachs entities were among the largest buyers in the transaction. Goldman Sachs Bank Europe SE purchased 7,01,249 shares worth Rs 100.63 crore, while Goldman Sachs Bank Europe SE – ODI bought 5,64,508 shares valued at about Rs 81 crore. Together, the Goldman Sachs entities acquired about 12.65 lakh shares worth roughly Rs 181.6 crore, making them the largest investor group among the participants.

Mirae Asset Mutual Fund purchased 9,00,000 shares worth Rs 129.15 crore, while Société Générale (ODI) acquired 7,00,000 shares valued at Rs 100.45 crore. DSP Mutual Fund bought 3,25,643 shares worth Rs 46.73 crore.

Other buyers included Schroder Asian Alpha Plus Fund, which purchased 3,46,958 shares worth Rs 49.8 crore, and Schroder AsiaPacific Fund PLC, which acquired 2,57,081 shares valued at Rs 36.9 crore. Tata Mutual Fund also participated in the deal, purchasing 3,45,000 shares worth Rs 49.5 crore, while Viridian Asia Opportunities Master Fund bought 7,00,000 shares for Rs 100.45 crore.

Tata Mutual Fund and Mirae Asset Mutual Fund already held stakes of 1.1% and 1.63%, respectively, in PB Fintech as of December 2025.