- Singapore’s Temasek sold its entire $290 million stake in PolicyBazaar parent PB Fintech.
- Temasek has divested over 24 million shares via its Claymore Investments entity.
- Temasek remains an highly active investor in India across sectors like healthcare and e-commerce.
Singapore sovereign fund Temasek has exited its position in PB Fintech, parent of Indian insurance marketplace PolicyBazaar, netting nearly $290 million from the share sale.
Divested 24 million shares
Through its Claymore Investments entity, Temasek divested over 24 million shares at $11.90 each, offloading its entire 5.4% ownership interest per regulatory filings.
The exit comes shortly after PB Fintech posted its first-ever quarterly profit, with demand for insurance products driving revenue higher.
Still an active investor in Indian tech
Other backers like SoftBank have also recently lowered PolicyBazaar holdings. Despite unlocking profits, Temasek remains highly active in the Indian market across sectors like healthcare and e-commerce.
The fund aims to deploy $10 billion into the country’s high-growth consumer and technology play over the coming years.
