PolicyBazaar Establishes Wholly Owned Subsidiary ‘PB Pay Private Limited’: Expansion into Payment Aggregation Services

PolicyBazaar, a prominent player in insurance and financial services, has unveiled plans to diversify its offerings by establishing a wholly owned subsidiary named ‘PB Pay Private Limited.’ This subsidiary, approved by the Board of Directors on March 20, 2024, aims to specialize in payment aggregation services, both domestically and internationally, subject to regulatory clearances.

Incorporation Approval: Board Meeting Decision

  • The Board of Directors of PolicyBazaar sanctioned the incorporation of PB Pay Private Limited on March 20, 2024.
  • The subsidiary’s proposed business model encompasses payment aggregation services, contingent upon regulatory approvals from authorities such as the Reserve Bank of India (RBI).

Business Scope and Capital Structure

  • PB Pay Private Limited is slated to operate as a Non-Banking Financial Company (NBFC) with a focus on payment aggregation.
  • The authorized share capital for the subsidiary is set at Rs 50,00,00,000, with a proposed paid-up capital of Rs 27,00,00,000.

Ownership and Transaction Details

  • As a wholly owned subsidiary of PolicyBazaar, PB Pay Private Limited will be categorized as a related party.
  • Despite PolicyBazaar’s absence of a discernible promoter, the transaction is expected to be conducted at arm’s length, considering its status as a professionally managed entity.

Piyush Shukla

Recent Posts

Mumbai Indians Won The Womens Premier League 2025 Final

Mumbai Indians secured their second WPL title in three seasons, defeating Delhi Capitals by 8…

8 hours ago

Winners List of Women’s Premier League (2023 to 2025) Year Wise

The Women's Premier League kicks off again on February 23rd, with a rematch of last…

8 hours ago

Which City of France is Known as the City of Lights?

France is home to many beautiful and historic cities, each with its own unique charm.…

13 hours ago

What is the National Sport of Canada?

Canada is a country known for its love of sports. Many games are played across…

14 hours ago

India Tops Medal Tally at World Para Athletics Grand Prix 2025 in New Delhi

India finished on top of the medal tally at the World Para Athletics Grand Prix…

16 hours ago

Who is Known as the Queen of the Pop? Know About Her

Some people leave a lasting impact on the world with their talent, creativity and hard…

16 hours ago