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PB Fintech Suffers Biggest Crash: ₹31,426 Crore Market Cap Wiped Out in Single Day.
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CNBC Awaaz•24-09-2026, 19:24
PB Fintech Suffers Biggest Crash: ₹31,426 Crore Market Cap Wiped Out in Single Day.
- •PB Fintech shares plummeted 36% on Thursday, marking the largest single-day fall since the company's stock market listing in November 2021.
- •The decline wiped out ₹31,426 crore from PB Fintech's market cap in a single trading session, exceeding the company's total earnings over eight years.
- •The crash followed IRDAI proposals for strict limits on insurance companies' management expenses and a 50% to two-thirds reduction in commissions for certain categories.
- •Jefferies noted that a 10% reduction in commission rates on new business could lead to a 10-12% drop in earnings for PB Fintech and Turtlemint Fintech Solutions.
- •The selling pressure also impacted other financial stocks, including Turtlemint Fintech Solutions, Max Financial Services, L&T Finance, and HDFC Life Insurance Company.
Key Questions Answered
PB Fintech shares plummeted 36% following insurance regulator IRDAI's proposal to strictly limit management expenses and cut commissions by up to two-thirds in categories like health, term, and motor insurance.
The single-day stock plunge wiped out ₹31,426 crore from PB Fintech's market capitalization, an amount exceeding the company's total earnings over the eight years of available data.
The selling pressure caused Turtlemint Fintech Solutions to drop by 20%, Max Financial Services and L&T Finance by about 10%, and HDFC Life Insurance by 6.2%. Additionally, shares of IDFC First Bank and IndusInd Bank fell by about 5% due to expected impacts on bank-assurance partnerships.
