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    PB Fintech's Dahiya, Bansal likely to sell stakes worth Rs 1,053 crore

    Synopsis

    Dahiya plans to sell up to 54 lakh shares, while Alok Bansal intends to sell up to 29.70 lakh shares, valuing the deal at about ₹1,053 crore at the floor price.

    PB FintechETMarkets.com
    In June 2022, Dahiya sold around 38 lakh shares, representing 0.84% in PB Fintech, at an average price of ₹610.24 per share.
    Mumbai: PB Fintech's chairman & CEO Yashish Dahiya and vice chairman Alok Bansal are likely to sell a portion of their holdings amounting to 1.86% of the company's equity on Friday through an open market transaction, according to a term sheet issued by Morgan Stanley India.

    The floor price of the deal has been set at ₹1,258, which is a 6% discount to Thursday's closing price of ₹1,338.25.

    Dahiya plans to sell up to 54 lakh shares, while Alok Bansal intends to sell up to 29.70 lakh shares, valuing the deal at about ₹1,053 crore at the floor price.

    A substantial portion of the proceeds from the sale is proposed to be used to pay taxes on current and future ESOP exercises, the company stated in an exchange filing. ESOPs are subject to the payment of taxes on exercise, in addition to the payment of capital gains tax on the sale of shares, it added.

    Post-sale, Dahiya will retain a 4.83% stake, and Alok Bansal will hold 1.63% in PB Fintech on a fully diluted basis.

    Shares of PB Fintech have rallied nearly 44% in last three months, compared to a 1.7% gain by the benchmark Sensex.

    In June 2022, Dahiya sold around 38 lakh shares, representing 0.84% in PB Fintech, at an average price of ₹610.24 per share.



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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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