INSUBCONTINENT EXCLUSIVE:
Max Financial Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance | Photo: X@MaxLifeIns1 min read
Last Updated : Sep 05 2024 | 10:15 PM IST
Max Ventures Investment Holdings, a promoter entity of Max Financial Services, on Thursday
divested a 3.18 per cent stake in the company for Rs 1,218 crore through an open market transaction.
Analjit Singh-promoted Max Financial
Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance.
According to the bulk deal data available on
the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 11,000,000 shares amounting to a 3.18 per cent stake in
Noida-based Max Financial Services.
The shares were disposed of at an average price of Rs 1,107.37 apiece, taking the transaction value to
per cent.
Details of the buyers of Max Financial Services' shares could not be ascertained.
Shares of Max Financial Services Ltd fell
1.42 per cent to close at Rs 1,117.25 apiece on the NSE.
In August last year, Max Ventures Investment Holdings, one of the promoters of
Max Financial Services, offloaded a 3.6 per cent stake in the company for Rs 1,091 crore.(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.)First Published: Sep 05
