PB Fintech, a publicly traded insurance company, has granted 75,760 shares of common stock to eligible employees under its Employee Stock Option Plan
With the new allotment, the issued and paid-up share capital of PB Fintech has increased from INR 91.20 crores to INR 91.22 crores earlier.
The company also allotted 48.3 lakh ordinary shares under its ESOP plan in June
PB Fintech, a leading publicly traded insurance company, has granted 75,760 shares of common stock to eligible employees under its Employee Stock Option Plan.
In an exchange filing, the company said its board of directors passed a resolution on September 4 (Wednesday) to allot 75,760 ordinary shares of face value of INR 2 each to eligible employees on exercise of options acquired under the PB Fintech ESOP 2021 scheme.
With the new allotment, the issued and paid-up share capital of PolicyBazaar’s parent company has increased from INR 91.20 crores to INR 91.22 crores earlier.
Shares of PB Fintech opened Thursday’s trading session at INR 1,720.05 per share on the Bombay Stock Exchange. As per the opening price of the stock today, the newly allotted shares are worth INR 13.03 crore.
It is pertinent to note that PB Fintech had also assigned 48.3 Lakh ordinary shares under its ESOP plan in June.
The new ESOP update comes after the Gurugram-based company reported its third consecutive profitable quarter in early August.
PB Fintech posted a consolidated net profit of INR 59.98 crore during the June quarter (Q1) of the financial year 2024-25 (FY25) against a loss of INR 11.9 crore in the year-ago quarter.
At the same time, the company’s operating revenue also jumped 51.8% to INR 1,010.5 crore in Q1 FY25 from INR 665.6 crore in the same quarter of the previous year, which influenced its shares. open to a record high of INR 1,664.35 per share on the Bombay Stock Exchange on August 7, up more than 16% at the opening of trade, a day after the results.
(The story will be updated soon)