Sebi notice to PolicyBazaar over Dubai buy

Date:


MUMBAI: Markets regulator Sebi is investigating PB Fintech, the corporate that runs insurance-tech platform PolicyBazaar, for non-disclosure of a $2-million funding in a Dubai-based firm. Sebi has issued a present trigger notice to Yashish Dahiya, chairperson & CEO of PB Fintech, the corporate disclosed to the exchanges.
“The SCN pertains to investment of $2 million by PB Fintech, Dubai on Nov 17, 2022 for 26.7% stake in YKNP Marketing Management (an unrelated party) which was not considered unpublished price sensitive information (UPSI) due to non-material value of the transaction,” the corporate stated.“It is clarified that on account of the SCN, there is no material impact on financials, operations or other activities of the company. Further, the company is seeking legal advice to take appropriate steps with respect to the SCN in the due course of time.”
The firm’s disclosure to the exchanges got here after markets closed on Thursday. During the day, the inventory closed 0.4% down at Rs 1,289.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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