Tencent Sells Stake in Policybazaar as Fintech Hits $10B Market Cap

• Tencent sold 2.1% stake in PB Fintech for $200 million, reducing holdings to 2.1%
• PB Fintech shares rallied 4x since June 2023, hitting $10 billion market cap
• Tencent's exit follows Tiger Global and SoftBank's full exits from the Indian unicorn
• PB Fintech reported 52% YoY revenue growth and $7.2 million net profit in Q1 FY25
• Tencent's divestment part of trend of Chinese investors reducing Indian startup stakes

Source: The Arc