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PB Fintech shares plunged 50% from their all-time high to drop below the 2021 IPO price of Rs 980. The sharp six-day selloff follows proposed IRDAI regulatory curbs on insurance distribution, prompting brokerages like Bernstein and Jefferies to cut target prices amid earnings pressure concerns.
PB Fintech stock has now lost about 43 percent over four sessions in a row since the Insurance Regulatory and Development Authority of India (IRDAI) proposed an overhaul of insurance distribution, including commission caps.
PB Fintech shares dropped 8% to ₹980 amid concerns over proposed insurance commission rule changes, resulting in a 48% decline over seven sessions. This major sell-off affected mutual funds, with significant losses reported as the stock neared its IPO price.