PB Fintech Limited has informed the Exchange about General Updates-Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
POLICYBZR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
PB Fintech, through its wholly-owned subsidiary Icall Support Services, has invested AED 1,20,06,140 (approximately ₹313.84 million) to acquire 15 shares in Genesis Group Limited, the holding company of Policybazaar Middle East Insurance Brokers LLC in Dubai. This deploys the remaining IPO proceeds (originally ₹309.21 million) earmarked under 'Object No. 4: Expanding presence outside India', with timelines previously extended by shareholders via postal ballot on March 16, 2025. Genesis Group's consolidated turnover grew sharply from AED 6.02 lakh in FY23 to AED 6.05 crore in FY24 and AED 10.94 crore in FY25, indicating rapid scale-up of the UAE insurance broking business. The transaction is a related-party deal conducted at arm's length, with no further government approvals needed.
This completes PB Fintech's planned deployment of IPO funds for international expansion, strengthening its UAE insurance broking footprint. The strong revenue growth at the UAE entity signals potential future contribution to consolidated revenue, though the investment size is relatively small compared to the company's overall scale.