INVC NEWS
Mumbai : Max Financial Services’ promoter company Max Ventures Investment Holdings sold 3.18 percent stake in the company for Rs 1,218 crore through open market transactions.
Max Financial Services Limited (MFSL) owns Max Life Insurance. According to data available about bulk deals on the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 1,10,00,000 shares equivalent to 3.18 percent stake in Noida-based Max Financial Services. These shares were settled at an average price of Rs 1,107.37 per share.
Thus, the total value of the transaction became Rs 1,218.11 crore. After this stake sale, the combined stake of promoters in MFSL has come down from 6.52 percent to 3.34 percent. However, the details of the buyers of Max Financial Services shares could not be ascertained.
