Insurance firm Roadzen plunges after direct stock deal

Roadzen

28/07/2025 15:09

** Auto insurance firm Roadzen's shares RDZN.O plunge 18% to $1.26

** RDZN announces pricing of $2.25 million registered direct stock deal

** Co agreed to sell 1.73 million shares at $1.30 apiece to an institutional investor

** Offering priced at 15% discount to last close

** Maxim Group was the sole placement agent for the offering

** All two brokerages covering stock rate it "buy"; median PT $4.50 - data compiled by LSEG

** As of last close, RDZN stock down 29.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))