India, March 13 -- Extending its losses to the second session, shares of PB Fintech crashed over 5% to hit an intraday low of INR 1,322 apiece on the BSE today.

The stock fell over 4% yesterday as well, a day after the insurtech major announced plans to infuse INR 829 Cr (around $95 Mn) in its healthcare arm.

At 2:09 PM today, shares of PB Fintech were trading 5.19% lower at INR 1,331.25 apiece on the BSE.

The Policybazaar parent said on Tuesday (March 11) that it received approval from its board to invest INR 696 Cr (about $80 Mn) in PB Health Services. Following the capital infusion, PB Fintech would own up to 33.63% stake in its healthcare subsidiary.

Besides the proposed investment, PB Fintech cofounders Yashish Dahiya and Alok Ba...