PB Fintech Allots Around 27 Lakh Equity Shares Under ESOP Plan

Insurtech major Policybazaar’s parent PB Fintech has allotted nearly 27 Lakh equity shares under its Employee Stock Option Scheme (ESOP) 2021.

In an exchange filing, PB Fintech on Friday (November 15) said it has received approval from its board to allot 27,85,962 equity shares to eligible employees under the 2021 scheme.

After the allotment of these shares, the company’s issued and paid-up share capital stands at INR 91,77,91,852 consisting of 45,88,95,926 equity shares having a face value of INR 2 each. 

“The Nomination and Remuneration Committee…has allotted 27,85,962 equity shares of face value of INR 2 each to eligible employees upon exercise of vested options under PB Fintech Employees Stock Option Plan 2021,” the filing added.

Prior allotment of the shares, the issued and paid-up share capital of PB Fintech was INR 91,22,19,928 consisting of 45,61,09,964 equity shares. 

Shares of PB Fintech closed the last trading session at INR 1725.15 apiece on the BSE. As per the stock’s closing price on Friday, the newly-allotted equity shares are worth INR 480 Cr.

This comes after the company allotted 75,760 equity shares to eligible employees under the same ESOP Plan. Earlier in June, PB Fintech allotted 48.3 Lakh equity shares under its ESOP plan 2021.

It reported its fourth consecutive quarterly profit at INR 50.98 Cr in the second quarter (Q2) of the fiscal year 2024-25 (FY25). 

Earlier in September, the company’s chairman and Group CEO Yashish Dahiya confirmed that the company is considering making a foray into the healthcare space. It was reported that PB Fintech is likely to make a one-time investment of $100 Mn to acquire a 30% stake in a new healthcare company after getting approval from its board.