Insurtech major Policybazaar’s parent PB Fintech has allotted about 27 Lakh equity offers beneath its Representative Stock Option Plot (ESOP) 2021.

In an exchange filing, PB Fintech on Friday (November 15) said it has gotten endorsement from its board to allot 27,85,962 value offers to qualified workers under the 2021 scheme.

After the allotment of these offers, the company’s issued and paid-up share capital stands at INR 91,77,91,852 comprising of 45,88,95,926 value offers having a confront esteem of INR 2 each. 

“The Nomination and Compensation Committee…has distributed 27,85,962 value offers of confront esteem of INR 2 each to qualified representatives upon work out of vested alternatives beneath PB Fintech Workers Stock Alternative Arrange 2021,” the recording added.

Prior allotment of the offers, the issued and paid-up share capital of PB Fintech was INR 91,22,19,928 comprising of 45,61,09,964 value offers. 

Shares of PB Fintech closed the final exchanging session at INR 1725.15 each on the BSE. As per the stock’s closing cost on Friday, the newly allotted value offers are worth INR 480 Cr.

This comes after the company distributed 75,760 value offers to qualified representatives beneath the same ESOP Arrange. Prior in June, PB Fintech distributed 48.3 Lakh value offers beneath its ESOP arrange 2021.

It detailed its fourth consecutive quarterly benefit at INR 50.98 Cr in the moment quarter (Q2) of the financial year 2024-25 (FY25). 

Earlier in September, the company’s chairman and Gather CEO Yashish Dahiya affirmed that the company is considering making a foray into the healthcare space. It was detailed that PB Fintech is likely to make a one-time venture of $100 Mn to procure a 30% stake in a modern healthcare company after getting endorsement from its board.

source: inc42.