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PB Fintech shares extend rally a day after market debut, rise nearly 18%

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At 12:13 pm, PB Fintech's shares were trading 13.60 percent higher at Rs 1,366.55 apiece on the BSE.

PB Fintech shares extend rally a day after market debut, rise nearly 18%
Shares of PB Fintech, the parent company of PolicyBazaar and PaisaBazaar, continued their upward move for the second day, surging as much as 18 percent, a day after listing.
On the Bombay Stock Exchange (BSE), the company's shares rose as much as 17.93 percent to an intraday high of Rs 1,418.60 apiece. On the National Stock Exchange (NSE), PB Fintech's shares advanced to Rs 1,418.40 apiece intraday, up 17.97 percent.
At 12:13 pm, PB Fintech's shares were trading 13.60 percent higher at Rs 1,366.55 apiece on the BSE. The benchmark Sensex index was 0.15 percent down at that time.
On Monday, the stock was listed with a premium of nearly 17 percent on its issue price of Rs 980. It made its debut at Rs 1,150 on both the BSE and NSE.
It gained as much as 27.44 percent to touch Rs 1,249 during the day on the BSE but pared some gains to close at Rs 1,202.90. On the NSE, it gained 22.61 percent to close at Rs 1,201.60.
In volume terms, 12.93 lakh shares were traded on the BSE and over 3.63 crore shares were traded on the NSE on Monday. The initial public offer of PB Fintech Limited was subscribed 16.59 times earlier this month.
Price range for the Rs 5,710-crore offer was Rs 940-980 per share. PB Fintech commanded a market valuation of Rs 54,070.33 crore on the BSE.
-With PTI inputs
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