March 27, 2023

Plc, the development finance institution owned by the UK government, on Friday divested a 3.56 per cent stake in Finance Ltd for Rs 453 crore through an open market transaction.

According to the bulk deal data available with the National Stock Exchange (NSE), Plc sold 1,35,01,587 shares of the company.

The shares were disposed of at an average price of Rs 335.64 apiece, valuing the transaction at Rs 453.16 crore.

Meanwhile, Morgan Stanley Asia Singapore Pte picked up the shares of the company.

As of the June quarter, plc, which is one of the public shareholders of Finance, owned 1.35 crore shares, amounting to a 3.56 per cent stake in the company, the shareholding pattern showed.

Shares of Finance closed 5.62 per cent lower at Rs 331.50 on .

(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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