Shares of PB Fintech surged nearly 5 percent on December 4, reaching a 52-week high of Rs 2,018.85 after the company announced plans to incorporate a wholly owned subsidiary. This new entity will focus on healthcare services under proposed names such as ‘PB Healthcare’ or ‘PB Healthcare Services,’ subject to approval by the Ministry of Corporate Affairs.
At around 12:30 PM, the stock was trading 4 percent higher at Rs 2,006. With an impressive year-to-date gain of 147 percent, PB Fintech has significantly outperformed the Nifty 50, which rose by 13 percent during the same period. The stock has maintained a positive streak, delivering gains for three consecutive months.
The subsidiary will have an authorized share capital of Rs 5 lakh and will be fully owned by PB Fintech. The company, along with its nominee, plans to subscribe to 50,000 equity shares at a face value of Rs 10 each, making an initial investment of Rs 5 lakh in cash.
PB Fintech, known for its flagship platforms Policybazaar and Paisabazaar, has been a key player in providing access to insurance and lending products in India. The company recently reported a profit of Rs 50.7 crore in Q2 FY25, a remarkable turnaround from a loss of Rs 20.2 crore in the same quarter last year.
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