YASHISH DAHIYA
AI on the clock as fintechs demand payoff for spends
September-quarter earnings calls of Paytm, Pine Labs, Groww, PB Fintech, Kissht and Mobikwik reveal a shift across payments, stockbroking, lending and insurance. AI is moving beyond chatbots and experiments into decisions affecting the cost of acquiring, serving and retaining customers.
PB Fintech, Delhivery improve Q2 profits; Binance's $6.3 billion caper
PB Fintech on Friday reported a strong jump in profit and revenue for the July-September quarter. This and more in today’s ETtech Top 5.
Govt’s frontier AI push; Insurance stock rout continues
The government is weighing an anchor investment for a frontier AI development fund. This and more in today’s ETtech Top 5.
Insurance stocks slide for 2nd day following IRDAI proposal to cap commissions
The insurance market is in turmoil as shares of leading companies drop following the IRDAI's proposal for new commission regulations impacting distributors. This shake-up could impose caps on commissions at the product level, adversely affecting the earnings of platforms like PB Fintech and Turtlemint. Following the announcement, PB Fintech's stock plummeted, while SBI Life and ICICI Lombard also faced declines.
PB Fintech: A record debut in 2021, a record ₹31,400 crore wipeout & now the biggest storm the Gurugram co can face
PB Fintech came under heavy selling pressure after IRDAI proposed changes to insurance commissions and distribution economics. PB Fintech shares plunged 36% on Thursday, wiping out more than ₹31,400 crore in market value, and remained volatile on Friday.
Insurance commission revamp to push insurtech firms to the brink
The regulator has proposed lower commission limits for distributors that sell products from several insurers, with sharp cuts across health, term and motor insurance. Shares of PB Fintech fell 36% on Thursday to Rs 1,210 on the BSE, while Turtlemint stock was down 20% at Rs 109.10 to hit its daily lower circuit.The impact could be particularly significant for PB Fintech, the parent of Policybazaar, which lost around Rs 31,000 crore in market cap during Thursday’s trade.
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Lower commissions could push Policybazaar into insurance manufacturing: Yashish Dahiya
PB Fintech is evaluating the possibility of entering insurance manufacturing as distribution commissions may decrease significantly. The proposed commission caps by the Insurance Regulatory Authority of India could impact the economic viability of their current distribution model. While these changes might make manufacturing more attractive, the company emphasizes the need for regulatory clarity. Additionally, PB Fintech believes its large customer base may provide an advantage if it enters manufacturing.
IRDAI's commission reset impact; ETSA winner Progcap’s next bet
Happy Friday! IRDAI's overhaul plan could significantly impact the new-age insurance distribution industry. This and more in today’s ETtech Morning Dispatch.
IRDAI commission proposal may push PB Fintech closer to insurance manufacturing, says Yashish Dahiya
The company said lower distribution commissions could alter the economics of its existing model and make insurance manufacturing a more relevant strategic option. Under the commission framework proposed by the Insurance Regulatory Authority of India (IRDAI), there would be product-level commission caps.
HDFC MF bets on PB Fintech, buys stake worth Rs 321 crore as IRDAI reforms trigger 36% stock rout
HDFC Mutual Fund bought 25 lakh PB Fintech shares worth about Rs 321 crore at Rs 1,282.30 each, even as the stock plunged 36% after IRDAI proposed renewed insurance commission caps, raising concerns over the company’s general insurance revenues.
PB Fintech forced to rethink business plan as India insurance commissions cap comes as a major shocker
Proposed commission caps from the Insurance Regulatory and Development Authority of India could severely impact PB Fintech's revenue. The company anticipates a potential reduction in income from general insurance to 33-40% of current levels. As a response, PB Fintech plans to enhance cost control measures and shift its focus toward profitability.
IRDAI proposal hits insurance stocks; FSSAI vs ecomm giants
The insurance regulator has proposed new limits on commissions as part of a wider overhaul. This and more in today’s ETtech Top 5.
Stocks in news: Tata Group, Wipro, BEL, HAL, Petronet LNG and Bharat Forge
Indian equity benchmarks exhibited a mixed performance on Thursday, September 17, amid ongoing volatility. The Nifty 50 index experienced a modest increase, while the Sensex noted a slight decrease. Corporate developments drew attention to Tata Group firms and Wipro, with Bharat Electronics securing fresh orders and Petronet LNG initiating discussions for a joint venture. Other notable advancements came from HAL and Bharat Forge.
PB Fintech sees Rs 665 crore block deal as founders pare stake; Goldman among other top funds buy
PB Fintech founders Yashish Dahiya and Alok Bansal sold 38 lakh shares worth Rs 665 crore in a block deal. The shares were purchased by various institutional investors, including Goldman Sachs and Tata Mutual Fund, following the company's recent performance.
Policybazaar founder warns of insurance squeeze; IT's buying spree
Happy Wednesday! Policybazaar’s Yashish Dahiya has warned that proposed commission caps could disrupt the insurance distribution industry. This and more in today’s ETtech Morning Dispatch.
GST exemption on insurance a game changer, says PB Fintech’s Yashish Dahiya
PB Fintech's CEO, Yashish Dahiya, hails the GST exemption on individual life and health insurance as a landmark reform, emphasizing its potential to boost awareness and adoption. He believes the government's move sends a strong signal about the importance of these essential products for families.
PB Fintech founders sell over 1% stake for Rs 920 crore
PB Fintech's co-founders, Yashish Dahiya and Alok Bansal, sold a little over 1% stake in the company for ₹920 crore through open market transactions. Dahiya and Bansal offloaded 50.50 lakh shares, reducing their holdings. The shares were acquired by domestic mutual funds, insurance companies, and foreign investors, including Tata Mutual Fund and Goldman Sachs.
PB Fintech is the incubator, the catalyst, not the eventual owner of the healthcare project: Yashish Dahiya
PB Fintech Ltd. plans to invest Rs 696 crore in its subsidiary PB Healthcare Services to enhance business operations. Chairman Yashish Dahiya shared insights on improving the customer experience and reducing insurance costs. The investment aims to resolve conflicts between hospitals and insurers by creating a trusted protocol, ensuring smoother claim settlements for customers.
PB Fintech's Dahiya settles alleged insider trading case with Sebi
Last year on April 5, Sebi issued a show cause notice to Dahiya alleging failure to identity acquisition of 26.72% shares of YKNP Marketing Management by PB Fintech through its subsidiary PB Fintech FZ-LLC as unpublished price sensitive information as per insider trading rules.
PB Fintech's Dahiya, Bansal likely to sell stakes worth Rs 1,053 crore
Dahiya plans to sell up to 54 lakh shares, while Alok Bansal intends to sell up to 29.70 lakh shares, valuing the deal at about ₹1,053 crore at the floor price.
PB Fintech's top executives to offload marginal stakes; floor price at Rs 1,258
Substantial portions of the proceeds from the sale will be used to make the payment of taxes on current and future ESOP exercises. ESOPs are subject to payment of taxes on exercise in addition to the payment of capital gain tax on the sale of shares. Post the sale Yashish Dahiya will continue to have a 4.83% stake and Alok Bansal will have a 1.63% stake in PB Fintech on a fully diluted basis.
Policybazaar parent will be profitable next fiscal: CEO Yashish Dahiya
Dahiya said the company’s revenue will increase by about five times this fiscal to around Rs 2,000-2,400 crore, higher than the industry growth rate, and it is estimated to record profits of around Rs 1,000 crore by FY27 and still grow its bottom line by 60-70%.
PolicyBazaar stock falls over 10% as founder sells shares in open market
Of the outstanding shares, Dahiya exercised 10.5 million options during February and May, with the remaining 147,899 vested Esops expected to be exercised within the next few days.
Who are Yashish Dahiya and Alok Bansal, founders of Policybazaar?
For Yashish Dahiya and Alok Bansal, their 13-year journey of building Policybazaar as India’s largest insurance marketplace started even before they launched the company.
Policybazaar’s Yashish Dahiya and Alok Bansal on IPO size, pricing & expectations
“We are quite comfortable about our IPO size because whatever feedback we received from investors, whatever we have heard from the bankers, the number of investors who have been interested and bid for the anchor book etc., make us feel confident,” says Dahiya.
PolicyBazaar rejigs the top deck, names Sarbvir Singh as its CEO
Online insurance aggregator PolicyBazaar has appointed former venture capital investor Sarbvir Singh as its new chief executive along with cofounder Yashish Dahiya taking up a broader group CEO role. The company has also appointed Sharat Dhall, who was previously with online travel operator Yatra, as its new chief operating officer.
Yashish Dahiya's success mantra: Running, swimming help him stay unbiased at work
Policybazaar co-founder also revealed that his children’s school fees was higher than his salary for the first six years of PolicyBazaar.
The CEO who waded into uncharted waters and shaped a market
Dahiya's success has showed a contrarian way to build a Unicorn, and that an internet Unicorn can also win a fight against well-funded rivals.
Never lie to cover up lapses or mistakes, says Yashish Dahiya, PolicyBazaar's co-founder
"When the CEO asked me what role I wanted, I immediately asked for the toughest job, and was posted to Rajkot in the market development and analytics department," Dahiya said.
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