PB Fintech stock tumbles over 9% after investment in healthcare arm fails to cheer investors

New Delhi: Shares of PB Fintech, parent entity of Policybazaar, tumbled more than 9 per cent on the bourses on Wednesday after the company's proposal to infuse Rs 696 crore in its healthcare arm failed to cheer investors.

The scrip of PB Fintech plunged 9.13 per cent to Rs 1,335.35 apiece on the BSE.

On the National Stock Exchange (NSE), it slumped 9.04 per cent to Rs 1,336.20 apiece.

The benchmark indices are trading in negative territory, with 30-share barometer tumbling 470.78 points or 0.64 per cent to 73,631.54 and NSE Nifty declining 134.65 points or 0.6 per cent to 22,363.25.

On Tuesday, PB Fintech said it proposes to infuse Rs 696 crore in its subsidiary PB Healthcare Services Private Limited in the next financial year to grow its business.

The decision was taken by the Board of Directors of PB Fintech Ltd. in a meeting held on Tuesday.

The board approved a proposal to make an investment for an aggregate amount of up to Rs 696 crore in PB Healthcare Services Private Limited, its wholly-owned subsidiary, by way of subscribing or purchasing its shares or Compulsory Convertible Preference Shares during the financial year 2025-26, PB Fintech Ltd said in a regulatory filing.

The said investment is, however, subject to the shareholder's approval through postal ballot and will be made along with other external investors in PB Healthcare Services Pv Ltd, it said.

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

PB Healthcare Services was incorporated in January 2025 to carry on the business of healthcare and allied services in India.