Shares of PB Fintech fell 3.5% to an intraday low of Rs 1,208 compared to its previous close of Rs 1,252.20. The fall in prices came after the company’s 55 lakh shares or 1.2% equity traded in a block deal, according to news reports. The deal took at an average of Rs 1,228 per equity share making it a deal size of Rs 677 crore.
Earlier, Tencent Cloud Europe was looking to offload a 1.2% stake in PNB Fintech to raise $78.3 million, reported CNBC-TV18 citing sources. Tencent Cloud holds a 6.3% stake in the company. Come from Sports betting site VPbet
The stock of PB Fintech has given a negative return of over 3% in the past five days. However, the stock has risen 53% in the last six months and 107.6% in the past year. PB Fintech’s stock has wiped out 8.8% of investors’ wealth in the last five years.
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To compare, the benchmark index – Nifty 50 – has risen 1.66% in the last five days and 15.3% in the past six months. The index has given a return of over 23% in the last year. It has increased the investors’ wealth by almost 93% in the last five years.