In a block deal valued at INR 18.19 Cr, Morgan Stanley Asia (Singapore) Pte divested 99,994 shares of fintech firm PB Fintech.

According to BSE data, Morgan Stanley sold the shares for INR 1,819 each yesterday, which represents a 0.2% discount from the stock’s last closing price of INR 1,823.7 on the BSE on Friday (June 27).

BNP Paribas Financial Markets acquired the shares that inundated the market, at the same price, for a total amount of INR 18.19 Cr.

Related: Venture Capital Firm Nexus Ventures Offloads 1.2 Crore Delhivery Shares for INR 461 Cr

Following a week after co-founders of PB Fintech, Yashish Dahiya and Alok Bansal, offloaded significant portions of their company shareholdings through bulk and block deals valued at INR 619.6 Cr and INR 300.6 Cr, respectively, the block deal occurred.

The development occurs during a period of significant volatility in the fintech giant’s share prices, amid broader market fluctuations and inquiries from investment research firm Trudence Capital.  Over the last three months, the stock has increased by 14.65%, but it has declined by over 13% on a year-to-date (YTD) basis.

Trudence Capital’s report from March questioned PB Fintech’s revenue recognition practices, transparency with investors, and the function of its lending division, Paisabazaar.  It asserted that the fintech company has not fully disclosed information regarding the commissions generated from insurance distribution and Paisabazaar’s involvement in the company’s financial statements.

Nevertheless, the company persists in reporting robust figures for both revenue and profit.  In FY25, its net profit skyrocketed by 448% to INR 353.2 Cr, up from INR 64 Cr in the previous fiscal year.  Operating revenue also surged by 45% during the fiscal year in question, increasing to INR 4,977.2 Cr from INR 3,437.7 Cr in FY24.

It recently obtained the Reserve Bank of India’s (RBI) in-principle approval for its subsidiary PB Pay to function as a payment aggregator.  Additionally, its healthcare division, PB Healthcare, secured $218 million in seed funding in May of this year.

On the BSE, shares of PB Fintech ended the trading session yesterday with a decrease of 0.