PB Fintech Limited Invests in Genesis Group Limited, Utilizing IPO Proceeds
PB Fintech Limited announced that its wholly-owned subsidiary, Icall Support Services Private Limited, has invested AED 1,20,06,140 (approximately ₹313.84 million) in the shares of Genesis Group Limited. This investment, made on March 31, 2026, fully utilizes ₹309.21 million of IPO proceeds previously approved by shareholders for expansion outside of India.Genesis Group Limited is the holding company of Policybazaar Middle East Insurance Brokers LLC, an insurance broker in Dubai, UAE. The transaction is classified as a related-party transaction and was completed on an arm’s length basis.
According to a report by M/s BMSA & Associated Chartered Accountant, New Delhi, Icall acquired 15 shares at a cost of AED 800,409.35 per share. Genesis Group Limited, along with Policybazaar Middle East, operates in the insurance broking business, with a consolidated turnover of AED 10,93,82,805 as of December 31, 2025.
The investment is intended to expand the company’s offerings of UAE products to UAE-based customers. No governmental or regulatory approvals were required for the acquisition.
Financial Details
| Particulars | Details |
|---|---|
| Cost of Acquisition | AED 1,20,06,140 (₹313.84 million) |
| Shares Acquired | 15 shares @ AED 800,409.35 per share |
| Turnover (consolidated, AED) | 2025: 10,93,82,805; 2024: 6,05,55,032; 2023: 6,02,173 |
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