Tencent Cloud Europe slashes PB Fintech stake in ₹700-crore block deal
A significant block deal in PB Fintech saw Tencent Cloud Europe BV sell a substantial stake in the company. The transaction, finalized on 6 March, involved over 48 lakh shares at ₹1,435.10 each. Several prominent investors swiftly acquired the shares, transforming the company's ownership structure.
Tencent Cloud Europe BV offloaded 48,40,439 shares, reducing its stake in PB Fintech from 2.12% to 1.06%. The sale represented roughly 1.04% of the company's paid-up equity.
Goldman Sachs entities emerged as the largest buyers, purchasing about 12.65 lakh shares for approximately ₹181.6 crore. Other major investors also participated actively. Société Générale (ODI) bought 7 lakh shares worth ₹100.45 crore, while Mirae Asset Mutual Fund acquired 9 lakh shares for ₹129.15 crore.
Additional purchases included 3.46 lakh shares by Schroder Asian Alpha Plus Fund (₹49.8 crore), 3.45 lakh shares by Tata Mutual Fund (₹49.5 crore), and 3.25 lakh shares by DSP Mutual Fund (₹46.73 crore). Schroder AsiaPacific Fund PLC also picked up 2.57 lakh shares valued at ₹36.9 crore.
The block deal has substantially altered PB Fintech's shareholder base. Tencent Cloud Europe's stake now stands at half its previous level, while new institutional investors have gained substantial positions. The transaction reflects robust interest in the company from global and domestic funds.
