Fintech major PB Fintech said that the management has dropped its plans, announced earlier this week, to raise funds via a qualified institutional placement (QIP). The company was responding to a report published earlier in the day which said PB Fintech plans to raise $1 Bn via the QIP. Notably, the company’s plans to consider a fundraise for inorganic acquisitions triggered a heavy sell-off in its shares. Following this, the company canceled its board meeting yesterday to deliberate on the fundraise. However, a report by Bloomberg said today that the company would look to raise $1 Bn from the QIP post an investor outreach. “In this regard, we would like to clarify that the news is factually untrue. The management or the board are not considering the QIP,” the company informed the bourses. The intimation around the QIP was made alongside PB Fintech’s financial disclosures for Q3 FY26. In a note on Tuesday, brokerage JM Financial said that a QIP aimed at funding international expansion at a time when management bandwidth is already focused on healthcare could introduce some volatility in its operations. “With the company already sitting on an ₹5,000 Cr+ cash pile, the requirement of a QIP suggests… Read MoreInc42 Media
