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Last Updated : Aug 05, 2020 08:57 PM IST | Source: Moneycontrol.com

Max Financial promoter offloads shares worth Rs 326 crore, MIT acquires 2% stake in NIIT

MIT already held 1.87 percent equity stake in the company as of June

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Promoter entity Max Ventures Investment Holdings on August 5 has offloaded 2.26 percent equity stake in Max Financial Services via open market transactions. It sold 61 lakh shares at Rs 535.18 per share, the bulk deals data available on the BSE showed.

The above stake sale was worth Rs 326.46 crore. As of June, Max Ventures held 28.15 percent stake (7,58,83,275 shares) in Max Financial, of which 92.03 percent stake has been pledged. Total promoter shareholding in the company stood at 28.31 percent.

Max Financial Services is the holding company for Max Life Insurance.


Among other deals, Massachusetts Institute of Technology (MIT) acquired additional 30 lakh shares in NIIT, a global learning outsourcing company, at Rs 96.75 per share through two deals.

MIT already held 1.87 percent equity stake in the company as of June.

Oman India Joint Investment Fund II bought 50,69,903 shares in private sector lender DCB Bank at Rs 81.9 per share. However, Motilal Oswal Asset Management Company through PMS Investment sold 50 lakh shares in bank at the same price.
First Published on Aug 5, 2020 08:57 pm