PB Fintech to pump in ₹696 crore capital in healthcare arm PB Healthcare

PB Fintech, a parent entity that operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has approved an investment of ₹696 crore in its wholly owned subsidiary PB Healthcare Services Pvt Ltd (PB Healthcare).

This capital infusion will happen by way of subscribing or purchasing PB Healthcare equity shares of ₹10 each or compulsorily convertible preference shares of ₹100 each in the next fiscal year (2025-26), according to PB Fintech’s stock exchange filing. The Board of Directors of PB Fintech approved the investment at a meeting on Tuesday. However, the investment is subject to approval by shareholders of the company.

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This equity investment will lead to PB Fintech gaining a 33.63 per cent shareholding in PB Healthcare. Besides this capital infusion, PB Fintech Co-Founders Along with Yashish Dahiya and Alok Bansal along with three key managerial persons (KMPs) will acquire a combined stake of 6.41 per cent for additional investment of ₹132.75 crore, the stock exchange filing showed. This takes the overall proposed investment in PB Healthcare to ₹828.75 crore.

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While Ashish Dahiya, Chairman, Executive Director & Chief Executive Officer of PB Fintech, will pick up at par equity shares worth ₹87 crore (4.2 percent stake), Alok Bansal,Executive Vice Chairman & Whole-time Director, will invest ₹43.5 crore (2.1 per cent stake) in the healthcare venture. Three KMPs (Sarbvir Singh, Mandeep Mehta and Bhasker Joshi) together will invest ₹2.5 crore share (0.11 per cent stake).

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Meanwhile, PB Fintech’s share price dropped near 7 percent on March 12 morning trade to ₹1,367 per share at BSE as the company’s ₹696 crore investment plan in PB Healthcare failed to excite the investors.

In December last year, PB Fintech Board had approved the setting up of wholly owned subsidiary for healthcare services.