By Malvika Gurung
Investing.com -- The Japanese conglomerate SoftBank Group has sold a 5.1% stake or 2.28 crore equity shares of the online insurance company PB Fintech (NS:PBFI) at an average price of Rs 456.4 apiece through an open market transaction.
According to the block deal data available with NSE, the SoftBank transaction cost around Rs 1,042.52 crore.
Among the buyers of the insurer’s shares were Societe Generale (EPA:SOGN), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) and Max Life Insurance.
As per reports, the French financial services provider Societe Generale acquired 26 lakh equity shares of PB Fintech, while Morgan Stanley Mauritius bought 27.3 lakh shares of the company at an average price of Rs 456.4 apiece.
Together, the two companies purchased shares worth Rs 243 crore of PB Fintech.
Shares of PB Fintech were trading 2.96% at Rs 479.3 apiece in early trade on Monday.