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Stock Report
PB Fintech announces proposal for sale of shares by CEO
Posted On : 2022-06-06 22:13:22( TIMEZONE : IST )
PB Fintech Limited has announced that it has received an intimation from Mr. Yashish Dahiya, Chairman and CEO of the Company, for an intention to sell up to 37,69,471 equity shares via bulk deals on the stock exchanges.
The Company submits that the aggregate shareholding of Mr. Yashish Dahiya after the Initial Public Offer ("IPO") of the Company was 1,72,38,878 (3.84%) and total number of ESOPs options vested and due for exercise immediately after the Initial Public Offer of the Company were 1,06,57,500. Out of the above outstanding stock options, he exercised 1,05,09,601 shares during February 2022 and May 2022. The remaining 1,47,899 vested ESOPs will be exercised within next few days. Apart from above vested stock options, 71,96,604 stock options were granted on October 05, 2021 which will get vested and exercisable over a period of 5 years commencing from the grant date i.e. October 05, 2021
The aggregate shareholding of Mr. Yashish Dahiya as on 31.03.2022 was 1,90,08,349 (4.23%) and post exercise of 55,09,601 ESOPs during May 2022 his aggregate shareholding increased to 2,45,17,950 (5.45%). As the ESOPs are subject to payment of taxes on exercise in addition to the payment of capital gain tax on the sale of shares, the proceeds from the sale of the 37,69,471 shares are proposed to be used to make the payment of current and future taxes.
Further, aggregate shareholding of Mr. Yashish Dahiya on account of exercise of 71,96,604 stock options which will get vested and exercisable over a period of 5 years commencing from the grant date i.e. October 05, 2021, will increase to 2,80,92,982 (5.98%) on a fully diluted basis post the proposed sale.
For avoidance of any doubt, there is no further sale of shares planned beyond these shares, at least for 1 year.
Shares of PB Fintech Ltd was last trading in BSE at Rs. 658.35 as compared to the previous close of Rs. 658.40. The total number of shares traded during the day was 20781 in over 2479 trades.
The stock hit an intraday high of Rs. 664.90 and intraday low of 647.60. The net turnover during the day was Rs. 13640480.00.
