New World Fund, Inc. has sold a 2.09% stake in PB Fintech Ltd through open-market transactions on November 12, according to filings made under SEBI’s takeover regulations.

The fund offloaded 92.14 lakh shares, reducing its holding from 5.05% (2.28 crore shares) to 2.96% (1.36 crore shares) in the parent company of Policybazaar and Paisabazaar . The disposal was executed entirely through open-market trades, the filing showed.

Shares of PB Fintech were trading 0.8% lower at ₹1,720.80 on the NSE as of 1:01 PM on Friday, slipping slightly but remaining well above recent lows.

The stake sale comes as PB Fintech continues to post strong financial performance. On October 29, the company reported a 165% year-on-year jump in Q2 net profit to ₹135 crore.

Revenue from operations climb

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