01-01-1970 12:00 AM | Source: Accord Fintech
PB Fintech jumps on getting nod to invest upto $5 million in PB Fintech FZ-LLC
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PB Fintech is currently trading at Rs. 534.65, up by 10.65 points or 2.03% from its previous closing of Rs. 524.00 on the BSE.

The scrip opened at Rs. 529.20 and has touched a high and low of Rs. 545.25 and Rs. 511.85 respectively. So far 254741 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 851.25 on 11-Feb-2022 and a 52 week low of Rs. 356.20 on 17-Nov-2022.

Last one week high and low of the scrip stood at Rs. 545.25 and Rs. 419.40 respectively. The current market cap of the company is Rs. 24085.73 crore.

The Institutions and Non-Institutions held 62.88% and 37.11% stake in the company.

PB Fintech has received approval to invest upto $5 million in the shares of PB Fintech FZ-LLC, a wholly owned subsidiary of the Company. As part of company’s investments, the present investment allows wholly owned subsidiary to meet its general operating expenses and enhancing brand awareness, office presence and strategic initiatives. The company will infuse the overall funds in the PB Fintech FZ LLC as approved by the Board of Directors in one or more tranches during the financial year 2022-23 and 2023-24. The Board of Directors at its meeting held on February 10, 2023, has approved the same.

PB Fintech is India's leading online platform for insurance and lending products. The company provides convenient access to insurance, credit, and other financial products and aims to create awareness in India about the financial impact of death, disease, and damage.