Shares of SBFC Finance fell 3 percent in opening trade on April 30 after a block deal worth Rs 534 crore took place on the exchanges. Around 6 crore shares, representing a 5.6 percent stake in SBFC Finance changed hands on the bourses.
At 09.21 am, shares of SBFC Finance were trading at Rs 89.10 on the NSE.
The block deal was done at a floor price of Rs 89 apiece, which reflects a near 3 percent discount from the scrips' previous close of Rs 91.65.
Moneycontrol could not immediately identify the parties involved in the transaction. However, CNBC-TV18 reported citing sources that the company's promoter group was looking to unload a 5.45 percent stake in SBFC Finance, aiming to earn Rs 536.50 crore from the transaction.
The company's promoter group held a 60.66 percent stake in the lender as per its latest shareholding data.
Eight45 Services, Arpwood Partners Investment Advisors, Arpwood Capital and SBFC Holdings are the four entities that make up the company's promoter group. Out of them, SBFC Holdings owns the biggest chunk of 55.21 percent.
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SBFC Finance also reported its quarterly numbers on April 29 which saw the lender's net profit surged 71.7 percent on year to Rs 73.42 crore in Q4 FY24.
Total income for the company grew 33.9 percent to Rs 280 crore in the March quarter as compared with Rs 209 crore in the same period year ago. Asset under management (AUM) also jumped 38 percent on year to Rs 6,822 crore while net non-performing assets saw a slight uptick on quarter.
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