PB Fintech stock extends losses for a second day, plunging 6%

New Delhi: Shares of PB Fintech, the parent entity of Policybazaar, on Thursday, plunged 6 per cent a day after the company proposed to infuse Rs 696 crore in its healthcare arm, a move that failed to cheer investors.

Extending the losses for the second straight day, the stock of PB Fintech declined 5.90 per cent to close at Rs 1,322.80 apiece on the National Stock Exchange (NSE).

The scrip of the company went lower by 5.44 per cent to settle at Rs 1,327.80 apiece on the BSE.

PB Fintech's shares settled nearly 5 per cent lower on the bourses on Wednesday.

In the past two sessions, PB Fintech's shares depreciated by 11 per cent.

In volume terms, 62.28 lakh equity shares of PB Fintech were traded on the NSE, while 2.37 lakh scrips exchanged hands on the BSE during the day.

The 30-share BSE Sensex declined by 200.85 points or 0.27 per cent to close at 73,828.91, and the NSE Nifty fell 73.30 points or 0.33 per cent to settle at 22,397.20.

On Tuesday, PB Fintech said it has plans to infuse Rs 696 crore in its wholly-owned subsidiary PB Healthcare Services in the next financial year to grow its business.

The board approved a proposal to make an investment for an aggregate amount of up to Rs 696 crore in PB Healthcare Services by way of subscribing or purchasing its shares or compulsory convertible preference shares during the 2025-26 financial year, PB Fintech Ltd said in a regulatory filing.

The investment is, however, subject to the shareholders' approval through a postal ballot and will be made along with other external investors in PB Healthcare Services, it added.

It also said the capital infusion would be done to meet its general operating expenses and enhance brand awareness, office presence and strategic initiatives.