PB Fintech shares close at 23% premium

New Delhi: Shares of PB Fintech Ltd,  which operates online insurance platform Policybazaar and credit comparison  portal Paisabazaar, listed  with a premium of nearly  23 per cent against its issue  price of Rs 980 on Monday.

The stock made its debut  at Rs 1,150, up 17.34 per cent  on both the BSE and NSE. It  gained 27.44 per cent to Rs  1,249 during the day on the  BSE. It rallied 22.74 per cent  to close at Rs 1,202.90.

On the NSE, it jumped  22.61 per cent to close at Rs  1,201.60. In traded volume  terms, 12.93 lakh shares  were traded at the BSE and  over 3.63 crore shares at the  NSE during the day.

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 at Rs 940-980 per share.

PB Fintech commanded  a market valuation of Rs  54,070.33 crore on the BSE. -(PTI)