Max Ventures Investment Holdings, promoter of Max Financial Services, on Thursday divested the company's shares worth Rs 783 crore through an open market transaction.
According to bulk deal data available with the NSE, Max Ventures offloaded a total of 78,28,217 shares of Max Financial Services.
The shares were divested at an average price of Rs 1,000.08, valuing the transaction at Rs 782.88 crore, the data showed.
Meanwhile, Government of Singapore picked up 60,13,487 shares of the company at Rs 1,000 apiece.
As of March 2021, Max Ventures held 16.87 per cent stake in Max Financial Services, as per shareholding data with BSE.
Earlier in March, the promoter entity had divested 9.34 lakh scrips of Max Financial Services at an average price of Rs 910.
On Thursday, shares of Max Financial Services settled 1.48 per cent lower at Rs 1,007 on the NSE.
source https://www.freepressjournal.in/business/max-ventures-sells-max-financial-services-shares-worth-rs-783-crore
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