3 entities sell shares of Five Star Finance for Rs 1,863 cr via open market
Following the share sale, shares of Five-Star Business Finance plunged 5.89 per cent to close at Rs 727.80 apiece on the BSE.
Three entities on Friday offloaded 2.55 crore shares of non-banking financial company Five-Star Business Finance for Rs 1,863 crore through open market transactions.
Following the share sale, shares of Five-Star Business Finance plunged 5.89 per cent to close at Rs 727.80 apiece on the BSE.
Norwest Venture Partners X Mauritius, Matrix Partners India Investment Holdings II LLC and TPG Asia VII SF Pte were the entities that sold the shares of Five-Star Business Finance on the BSE.
According to the bulk deal data on the BSE, they offloaded a total of 2.55 crore shares of Five-Star Business Finance in four tranches.
The shares were sold in the price range of Rs 730-730.62 apiece, taking the combined transaction value to Rs 1,862.86 crore.
Meanwhile, HDFC Mutual Fund acquired 41.19 lakh shares of Five-Star Business Finance, at an average price of Rs 730 apiece, taking the deal value to Rs 300.71 crore.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 01 2023 | 11:30 PM IST