Yashish Dahiya, Chairman and CEO, and Alok Bansal, Vice-Chairman of PB Fintech Limited (NSEI:POLICYBZR), the parent company of Policybazaar, are set to sell a combined stake of 1.86% in the company, according to a term sheet viewed by Mint. Yashish Dahiya will offer up to 54 lakh shares, while Alok Bansal will sell up to 29.7 lakh shares. The shares will be sold at a floor price of INR 1,258 per share, a 6% discount to the closing price on 16 May 2024 of INR 1,338.25 apiece on the BSE.

This translates to an estimated total deal value of INR 10.53 billion (approximately $126 million). Investment bank Morgan Stanley is managing the sale. PB Fintech spokespersons did not respond to emails seeking comments.

The company's two executives currently hold a combined stake of 6.3%, with Yashish Dahiya and Alok Bansal owning 4.63% and 1.67%, respectively. After the sale, their holdings will reduce to 3.43% and 1.01% respectively.