 "Dynasty Acquisition pares 2.14% stake in Shriram Finance for Rs 1,040 cr")
Dynasty Acquisition (FPI) on Friday divested 2.14 per cent stake in the non-banking financial company (NBFC) Shriram Finance for Rs 1,040 crore through open market transactions.
The buyers include -- FID Funds Mauritius, Societe Generale, BNP Paribas Arbitrage, and ICICI Prudential Life Insurance Company, among others.
Dynasty Acquisition (FPI) offloaded a total of 79,96,867 shares in eight transactions, amounting to a 2.14 per cent stake in the company, according to the block deal data available with the BSE.
The shares were sold at an average price of Rs 1,300 per piece, taking the transaction value to Rs 1,039.59 crore.
Post the latest transaction, Dynasty Acquisition (FPI) shareholding reduced to 2.49 per cent from a 4.63 per cent stake in the company.
On Friday, shares of Shriram Finance closed 2.17 per cent lower at Rs 1,283.15 apiece on BSE.
(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.)
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