Home / Business and Economy / Policybazaar Parent Gains Stock Broker License
Policybazaar Parent Gains Stock Broker License
9 May
Summary
- PB Fintech receives SEBI approval for debt segment stockbroking.
- Subsidiary PB Marketing will operate on the NSE debt market.
- Company expands financial services beyond insurance aggregation.
PB Fintech's wholly-owned subsidiary, PB Marketing and Consulting Pvt Ltd, has obtained approval from the Securities and Exchange Board of India (SEBI) to function as a stockbroker. This license specifically pertains to the debt segment of the National Stock Exchange (NSE).
The newly acquired license permits PB Fintech to facilitate transactions involving corporate bonds, government securities, and other fixed-income instruments. However, it does not extend to equity or derivatives trading, which would require separate regulatory clearances.
This development marks a significant step in PB Fintech's strategic diversification strategy. The company has been progressively broadening its financial services portfolio, which now includes lending, payments, and wealth-related offerings, extending beyond its established presence in insurance aggregation.
Recent financial disclosures indicate robust performance, with operating revenue increasing by 37% year-on-year to Rs 2,061 crore and profit rising by 54% to Rs 261 crore in the latest reported quarter. Concurrently, Chinese internet giant Tencent recently divested a 1.05% stake in PB Fintech for Rs 805 crore.
