Shares of PB Fintech were in focus on March 6 and opened lower after a large block deal took place on the exchanges, involving shares worth nearly ₹695 crore. Data from the block deal window showed that around 48.40 lakh shares, representing roughly 1.04% equity, changed hands in the transaction.

Media reports suggested that Tencent Cloud is likely the seller in the block deal, with the transaction reportedly executed by Goldman Sachs. Tencent currently holds around 2.09% stake in PB Fintech, the parent company of Policybazaar and Paisabazaar.

Following the transaction, the stock was trading around ₹1,444.90, down about 1.89%, compared with the previous close of ₹1,472.80. The share had opened at ₹1,466.20 during the session and slipped to an intraday low of ₹1,442.

The stock has been under pressure in recent months amid regulatory developments affecting the insurance distribution ecosystem. Reports earlier indicated that health and general insurers have reduced commissions paid to online distributors by around 18%, which could impact revenue visibility for platforms such as Policybazaar that rely on commissions from insurers.

PB Fintech had also seen volatility recently after announcing plans to raise funds through a Qualified Institutional Placement (QIP) to support expansion and potential acquisitions. However, the company cancelled the QIP proposal following backlash from shareholders, which raised concerns around potential equity dilution.

The combination of regulatory overhang on commissions and uncertainty around capital-raising plans has weighed on investor sentiment, with the stock declining more than 20% so far this year.

PB Fintech operates digital insurance marketplace Policybazaar and credit marketplace Paisabazaar, and remains one of the key listed companies in India’s online financial services ecosystem.