PB Fintech's shares slashed ₹30,000 crore from market cap and hit a 52‑week low on Thursday, September 24.
The decline follows the IRDAI's draft paper on distribution norms, which analysts say could expose the company's distribution model.
India’s market has seen steeper intraday falls, with Yes Bank dropping 80% in March 2020 after RBI intervention, PC Jeweller falling 60% in February 2018 amid a SEBI probe, and DHFL and Indiabulls Housing plunging 55‑60% in 2018.
PB Fintech's filing to the BSE shows a net loss for the quarter, and the company plans to address the draft in an upcoming board meeting. Analysts expect the firm to outline mitigation strategies in its earnings call on October 15.