PB FINTECH IPO

Mubadala leads Rs 1100 crore funding round in Avanse

Avanse is the second largest domestic private sector NBFC in the education loan segment with assets under management (AUM) of Rs 8,646 crore in FY23. The firm's total disbursement in FY23 stood at Rs 6,143 crore, a 2.1x increase over the previous financial year. The company has disbursed loans to over 3.5 lakh students and provided working capital to 1200 institutions.

PB Fintech to consider returning capital to shareholders: Yashish Dahiya

A formal decision in this regard, however, will be made only after discussions with the board and consent from shareholders, he added.

Yashish Dahiya on 3 factors will lead to higher profitability for PB Fintech looking ahead

Yashish Dahiya of PB Fintech, discusses the contribution margin and EBITDA margin of the business. He highlights the significance of renewals and the higher margin they bring compared to fresh business. Dahiya also mentions the impact of ESOPs and the company's strategic focus on expanding services and controlling more of the value chain. He mentions investments in Visit Health and the company's plans for account aggregation, payment aggregation, and reinsurance brokerage.

Policybazaar shares cross IPO price after 2 years, jump 14% on first-ever profit

Policybazaar share price: PB Fintech's first-ever profit catapulted its stock to a fresh 52-week high. Target price upgrades served as the icing on the cake. BofA raised the target, retaining its neutral rating. Kotak Institutional Equities maintained a buy view relying on broad-based growth. Nuvama raised the price target but retained the 'reduce' rating on rich valuations. PB Fintech reported a consolidated net profit of Rs 38 crore, against a loss a year ago. Revenue increased 43% YoY to Rs 871 crore.

SoftBank offloads another 2% stake in Paytm

Earlier in February last year, SoftBank held a 13.24% stake in fintech major Paytm and has continued to dilute its stake through the course of last year. After the latest sale, SoftBank now holds a 5.06% stake in One 97 Communications, the parent entity that operates the Paytm brand.

SoftBank fully exits Policybazaar parent, fetching $650 million in returns

SoftBank had invested close to $200 million in PB Fintech and sold its remaining stake in a mid-December transaction for about Rs 914 crore (or $109 million).

SoftBank took home $1.8-1.9 billion from four listed portfolio companies

Japanese investor SoftBank has sold stakes worth $1.8-1.9 billion during the public offerings and through post-listing sales in four Indian startups — Paytm, Zomato, PB Fintech and Delhivery — that went public in 2021 and 2022. It had invested a total of $2.3-2.4 billion in these four new-age companies.

Paytm a must-have in a portfolio and use Berkshire exit as a buying opportunity: Sanjiv Bhasin

“DLF and Godrej have been two of our portfolio picks, since they were at almost half the levels from where they are now. We were also very bullish on property given that asset monetisation or asset creation of wealth because of the twin rally in gold and stocks will see hard assets do well.”

Mutual funds take a shine to Zomato, Nykaa, Paytm, other new-age stocks

An analysis of shareholding patterns of new-age firms such as Zomato, Paytm, Delhivery, Nykaa and PB Fintech, showed mutual funds have increased their holdings in several of these companies slowly but significantly over the last four quarters.

Mamaearth parent Honasa Consumer sees IPO going in the right direction

Honasa Consumer’s Rs 1,700 crore IPO opened for public subscription on Tuesday. It is offering the shares at a price band of Rs 308-324 each.

Zepto CEO's big sales target; sustainable ventures in focus for public markets at ET Startup Awards 2023

India's newest unicorn Zepto has set its sights on an ambitious sales target, CEO Aadit Palicha said during The Economic Times Startup Awards 2023 (ETSA).

ETSA panel discussion: Focus needed on building new ventures sustainably for public markets

Prashanth Prakash, partner at Accel India, said India’s public markets are one of the best things that the country has to offer to the new economy space, but the ecosystem “lost sight of what it is to practically build a company for the public market”.

We eventually want to become a reinsurance broker: Yashish Dahiya, PB Fintech

“This year we might be performing a little better than expected, but that is not anything significant right. It is just maybe 5-10% better than expected. So, our guidance stays the same. This year we will broadly be a PAT positive and every year in our core business we add about Rs 200 crore of incremental profit.”

Paytm, Zomato, PolicyBazaar can be the next Reliance, Titan or Asian Paints. Here’s why

"Paytm, Zomato, PolicyBazaar, Nykaa are entrepreneur driven companies and in India, you make a lot of money if you bet on the right entrepreneur, as we have seen with Reliance Industries, Asian Paints or Titan, for that matter, the Tata Group companies. These companies have all the right ingredients for a multibagger. If you remain patiently invested at some point of time, positive news flow will drive the stock prices higher."

Indian portfolio firms Swiggy, Lenskart, FirstCry, OfBusiness preparing to go public soon: SoftBank’s Navneet Govil

SoftBank's Vision Fund swung to a profit after six straight quarters of losses and said it will begin investing after a prolonged period of inactivity even as the Japanese group logged $3 billion in net loss.

SoftBank sheds another 2% in Paytm; will approach GST Council on 28% tax once gaming rules in place: Chandrasekhar

In May, SoftBank had sold a 2.07% stake in Paytm through open market transactions that began in February. Prior to the latest transaction, SoftBank held around 11% in the Noida-headquartered fintech company.

Zomato and PB Fintech stocks hit 52-week highs

With the broader stock market indices setting record highs, shares of two Gurgaon-based newage companies, Zomato and PB Fintech, touched 52-week highs on July 13.

Zomato, PB Fintech hit 52-week highs

The two stocks outperformed their new-age peers Delhivery, One 97 Communications (Paytm), FSN Ecommerce (Nykaa), and CarTrade Tech, which were trading off their yearly highs.

Rajnish Kumar, Mohandas Pai join Byju’s advisory council; Wipro net profit up in double digits

Troubled edtech major Byju’s said it has appointed Rajnish Kumar, former SBI chief, and ex-Infosys CFO Mohandas Pai to its Board Advisory Committee. This and more in today’s ETtech Top 5.

Zomato, PB Fintech shares jump up to 9% to fresh 52-week highs

Zomato's shares rallied 9% to reach a 52-week high of INR 84.5, as of Thursday's intraday trade on BSE. From its 52-week low of INR 40.5, it has rallied 109%. Zomato shares are currently trading over 11% above their IPO issue price of INR 76. The average target price for the stock is INR 81, which shows a downside of just 1% from current market prices. The consensus recommendation from 26 analysts is "Buy.

Road to recovery: Can Paytm, PB Fintech & other new-age stocks reclaim IPO price levels?

Tencent offloads 2% stake in PB Fintech for Rs 562 crore

Tencent sold the shares for Rs 596.6 a piece, roughly 39% below PB Fintech’s IPO price of Rs 980. As per the latest transaction, Tencent's shareholding in PB Fintech has reduced to 6.28% from 8.37% (as of March 2023).

Rs 85,000 cr m-cap loss! Can new-age stocks' fortune turnaround in FY24?

Five out of six new-age stocks that made their way to Dalal Street during the flourishing market period of 2021 have suffered double-digit cuts between 16-52% in financial year 2023, causing an erosion of Rs 84,742 crore in market cap. The lack of valuation comfort and a rising interest rate environment turned high-growth stocks into wealth destroyers. Nykaa suffered the maximum losses at 53%, trailed by Zomato, CarTrade Tech, Delhivery, and PB Fintech.