The startup board approved the allocation of 29.9 Lakh stock options under ESOP Scheme 2024
The stock options are convertible into equal number of equity shares of the company of face value of INR 2 each.
PB Fintech has recently got approval to incorporate a new health-focused subsidiary
Insurtech startup PB Fintech has expanded the pool size of its employee stock exchange plan (ESOP) with a fresh allotment of 29.9 Lakh stock options.
In an exchange filing yesterday (December 4), the company said that its board has approved the allocation of 29.9 Lakh stock options under ESOP Scheme 2024.
“…has approved the grant of 29,92,427 stock options convertible into equal number of equity shares of the company of face value of INR 2 each,” the company added.
This comes a day after the startup received the approval of its board to incorporate a new subsidiary to offer healthcare services. Additionally the company said that it will file an application for rolling out the new healthcare-focussed entity on a later date.
At 10:04 AM today (December 5), the shares of PB Fintech were trading at INR 1991.25 apiece on the BSE, 0.64% down from its previous close at INR 2004.10.
A few weeks back, the company also allotted nearly 27 Lakh equity shares to eligible employees under its ESOP 2021.
PB Fintech, which owns fintech platform Paisabazaar.com and insurance platform Policybazaar.com, is currently foraying into the healthcare segment.
In September, the company’s chairman and Group CEO Yashish Dahiya confirmed that it is considering making a foray into the healthcare space.
Back then, Dahiya added that PB Fintech will make a one-time investment of $100 Mn to acquire a 30% stake in a new healthcare company.
On the financial front, the company posted a consolidated net profit of INR 50.98 Cr in Q2 of FY25 against a loss of INR 21.11 Cr in the year-ago period. Its revenue from operations also surged 43% year-on-year (YoY) to INR 1,167.2 Cr in Q2 FY25 from INR 811.6 Cr in the year-ago quarter.
