PB Fintech jumps on getting nod to incorporate wholly owned subsidiary
PB Fintech is currently trading at Rs. 1139.75, up by 22.90 points or 2.05% from its previous closing of Rs. 1116.85 on the BSE.
The scrip opened at Rs. 1111.65 and has touched a high and low of Rs. 1150.60 and Rs. 1111.65 respectively. So far 40382 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1179.00 on 29-Feb-2024 and a 52 week low of Rs. 567.50 on 17-Apr-2023.
Last one week high and low of the scrip stood at Rs. 1158.20 and Rs. 1084.55 respectively. The current market cap of the company is Rs. 51387.56 crore.
The Institutions and Non-Institutions held 64.98% and 35.02% stake in the company respectively.
PB Fintech has received approval from Board of Directors to incorporate wholly owned subsidiary of the Company under the name and style of ‘PB Pay’ to carry on the business of payment aggregator domestic and / or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with offline and/or digital payment acceptance infrastructure or both.
The Board of Directors of the Company at its meeting held on March 20, 2024, has, inter-alia, considered and 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.
