PB Fintech Drops with CEO 's decision to Sell Shares

PB Fintech announced on Monday, June 6, that Yashish Dahiya, the company's president and CEO, intends to sell up to 37,69,471 shares through bulk trades on the exchange.

The company stated that the total shares of Yashish Dahiya after the company's initial public offering (IPO) were 1,72,38,878 (3.84%) and the total number of ESOPs options granted and matured payout immediately after the company's IPO was 1,06,57,500.

Out of the above outstanding stock options, he exercised 1,05,09,601 shares in February 2022 and May 2022. The remaining 1,47,899 ESOPs will be exercised in the coming days.

The ESOP is subject to tax payments at the time of vesting in addition to capital gains tax payments associated with the sale of shares, so the proceeds from the sale of 37,69,471 shares have been proposed to be used to pay current and future taxes.

PB Fintech reported a consolidated net loss of Rs 219.60 crore in the fourth quarter of 2010, compared to Rs 64.38 crore in the same period last year. Operating profit for the quarter doubled from Rs 270.76 crore recorded in the fourth quarter of 2009 to Rs 540.3 crore.