PB Fintech surges on acquiring 26.72% stake in YKNP Marketing Management
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PB Fintech is currently trading at Rs. 407.05, up by 4.25 points or 1.06% from its previous closing of Rs. 402.80 on the BSE.
The scrip opened at Rs. 399.00 and has touched a high and low of Rs. 420.00 and Rs. 396.80 respectively. So far 196293 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1338.95 on 25-Nov-2021 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. 420.00 and Rs. 356.20 respectively. The current market cap of the company is Rs. 18310.37 crore.
The Institutions and Non-Institutions held 27.88% and 72.12%, stake in the company respectively.
PB Fintech has made an investment of around $2 million and acquired 26.72% Shares of YKNP Marketing Management through PB Fintech FZ-LLC, a wholly owned subsidiary of the Company.
With this partnership, the company will get access to banks of UAE where it can start sourcing customer leveraging the YKNP agreement and field force. YKNP Marketing Management has about majority business through Arabic population. The company will get access to sales team which can cater to Arabic customers.
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.
