PB Fintech's Strategic Rs 696 Crore Investment in Healthcare Arm

PB Fintech has approved a Rs 696 crore investment in its subsidiary, PB Healthcare Services, to be executed via equity or preference shares pending shareholder approval. The move aims to bolster PB Healthcare's financial footing and strategic growth, aligning with PB Fintech's broader objectives.

PB Fintech, the parent company behind Policybazaar, made headlines on Tuesday with the announcement of a significant investment in its subsidiary, PB Healthcare Services. The investment, amounting to up to Rs 696 crore, will be executed through equity shares or compulsorily convertible preference shares, pending shareholder approval via postal ballot.

PB Healthcare, which was incorporated in January of this year, operates within the healthcare and allied services sector. This strategic financial commitment by PB Fintech is expected to enhance PB Healthcare's operational capabilities, strengthen its brand presence, and support strategic initiatives, according to a regulatory filing.

PB Fintech clarified that the transaction aligns with its strategic objectives and will be completed at a fair value. Once completed, this investment will give PB Fintech a 33.63 percent stake in PB Healthcare on a fully diluted basis. The move also involves participation from top executives and external investors, with regulatory approvals expected within 90 days.

(With inputs from agencies.)