Max Ventures Investment Holdings Pvt Ltd, a promoter of Max Financial Services on Thursday sold shares worth ₹783 crore through an open market transaction.
As per block deal data on NSE, the promoter sold over 7.83 million shares of Max Financial Services Ltd at an average price of ₹1000.8 aggregating to ₹782.88 crore.
Government of Singapore was among buyers of Max Financial shares, having bought 6.01 million shares at ₹1000 aggregating to ₹601.35 crore.
According to the latest shareholding pattern, Max Ventures Investment Holdings Pvt Ltd held 16.87% stake in the company.
Max Financial Services reported a profit of ₹62.34 crore for the quarter ended 31 March 2021 against a loss of ₹35.09 crore in the same quarter last year. Total income gained 128.8% to ₹9760.31 crore for the March quarter over ₹4265.64 crore for the corresponding quarter previous fiscal.
From the beginning of the calendar year, Max Financial Services gained 48.88% against a rise 12.23% in the benchmark index, Nifty
Shares of Max Financial Services lost 1.68% to close at ₹1005 on Thursday on NSE, while the benchmark index, Nifty lost 0.48% to close at 15,691.40.
This article was first published on livemint.com