SynopsisThe capital infusion will be made in one or more tranches through equity subscription and is aimed at supporting PB Pay's business expansion and meeting the Reserve Bank of India's capital adequacy and net worth requirements for a payment aggregator, the company said. It added that the investment will not alter PB Fintech's ownership, with PB Pay remaining a 100% owned subsidiary.PB Fintech, the parent company of insurance marketplace Policybazaar, on Tuesday approved an investment of up to Rs 20 crore in its wholly owned payments subsidiary, PB Pay Pvt Ltd. The company has also approved the incorporation of two step-down subsidiaries in Dubai to strengthen its overseas financial services and insurance operations.The decisions were approved by the company's merger & acquisitions and investment committee at itsNow Playing
PB Fintech investment: PB Fintech to inject Rs 20 crore into payments arm, expand Dubai presence - The Economic Times
The capital infusion will be made in one or more tranches through equity subscription and is aimed at supporting PB Pay's business expansion and meeting the Reserve Bank of India's capital adequacy and net worth requirements for a payment aggregator, the company said. It added that the investment will not alter PB Fintech's ownership, with PB Pay remaining a 100% owned subsidiary.
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