HDFC Mutual Fund bought 25 lakh shares of PB Fintech at Rs 1,282.30 per share on September 24, according to NSE bulk deal data, in a transaction worth about Rs 321 crore.
The purchase came on a day when shares of PB Fintech, the parent company of Policybazaar and Paisabazaar, plunged 36% following the Insurance Regulatory and Development Authority of India’s (IRDAI) proposed overhaul of insurance distribution rules.
