Turtlemint, PB Fintech, Home First Finance shares crack further, slump up to 20% in early trade
The stocks have come under pressure as investors assess the potential impact of the proposed insurance distribution reforms.
- Sep 25, 2026,
- Updated Sep 25, 2026 11:00 AM IST
Shares of Turtlemint Fintech Solutions Ltd, PB Fintech Ltd (the parent company of Policybazaar and Paisabazaar) and Home First Finance Company India Ltd extended their declines in Friday's trade amid investor focus on the potential implications of the Insurance Regulatory and Development Authority of India's (Irdai's) proposed distribution reforms.
Turtlemint Fintech shares plunged 20 per cent to hit a record low of Rs 87.30, while PB Fintech declined 7.84 per cent to hit a fresh 52-week low of Rs 1,115.10.
Home First Finance stock fell 5.24 per cent to a day's low of Rs 1,098.25.
JM Financial has flagged potential implications for select banks and non-banking financial companies (NBFCs) from the proposed changes.
Irdai's consultation paper proposes lower Expenses of Management (EOM) caps for life and general insurers, along with segment-level commission caps that were removed from FY24.
The draft also contains specific observations on the bancassurance channel.
Emkay Global said the proposed reforms aim to address concerns around mis-selling and make insurance more affordable.
However, the brokerage noted that a reduction in distribution commissions could affect the economics of insurance distribution.
"The intent behind the proposed reform could be noble, to address the root cause behind mis-selling and also to make insurance more affordable. However, the drastic cut in distribution commission would also make insurance distribution an unviable business and an unattractive vocation. And this could severely backfire, hurting the regulator's growth agenda and 'Insurance for All by 2047'," the brokerage said.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said the proposed Irdai norms on commissions could be negative for companies such as PB Fintech, Turtlemint Fintech and Home First Finance. He added that investors with a medium- to short-term view should consider selling on rise.
Shares of Turtlemint Fintech Solutions Ltd, PB Fintech Ltd (the parent company of Policybazaar and Paisabazaar) and Home First Finance Company India Ltd extended their declines in Friday's trade amid investor focus on the potential implications of the Insurance Regulatory and Development Authority of India's (Irdai's) proposed distribution reforms.
Turtlemint Fintech shares plunged 20 per cent to hit a record low of Rs 87.30, while PB Fintech declined 7.84 per cent to hit a fresh 52-week low of Rs 1,115.10.
Home First Finance stock fell 5.24 per cent to a day's low of Rs 1,098.25.
JM Financial has flagged potential implications for select banks and non-banking financial companies (NBFCs) from the proposed changes.
Irdai's consultation paper proposes lower Expenses of Management (EOM) caps for life and general insurers, along with segment-level commission caps that were removed from FY24.
The draft also contains specific observations on the bancassurance channel.
Emkay Global said the proposed reforms aim to address concerns around mis-selling and make insurance more affordable.
However, the brokerage noted that a reduction in distribution commissions could affect the economics of insurance distribution.
"The intent behind the proposed reform could be noble, to address the root cause behind mis-selling and also to make insurance more affordable. However, the drastic cut in distribution commission would also make insurance distribution an unviable business and an unattractive vocation. And this could severely backfire, hurting the regulator's growth agenda and 'Insurance for All by 2047'," the brokerage said.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said the proposed Irdai norms on commissions could be negative for companies such as PB Fintech, Turtlemint Fintech and Home First Finance. He added that investors with a medium- to short-term view should consider selling on rise.