homefinance NewsTencent, SoftBank Vision Fund in talks to buy Tiger Global's 21% stake in Policybazaar, says report

Tencent, SoftBank Vision Fund in talks to buy Tiger Global's 21% stake in Policybazaar, says report

Etechaces Marketing and Consulting owns Policybazaar and Paisabazaar — online financial services portals.

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By CNBCTV18.COMJul 12, 2019 8:31:07 AM IST (Updated)

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Tencent, SoftBank Vision Fund in talks to buy Tiger Global's 21% stake in Policybazaar, says report
Chinese investment firm Tencent and Japan’s SoftBank Vision Fund are among the investors in talks to buy 21 percent stake of Tiger Global Management in Etechaces Marketing and Consulting, owner of Policybazaar and Paisabazaar, The Times of India reported, citing sources familiar with the development. 

The firm is seeking a valuation of $1.5 billion for the stake and has pegged the deal size at more than $300 million, said the TOI sources.
“Tiger Global has appointed a banker for the stake sale and Tencent is likely to come in as a new investor. SoftBank may also increase its stake to about 20 percent in the company,” one of the sources was quoted as saying in the report.
When contacted by the paper, Etechaces co-founder and CEO Yashish Dahiya, SoftBank and Tiger Global refused to comment on the learned development.

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