IIFL Finance share price hit 5 percent lower circuit on BSE on September 17 after CDC Group sold stake in the company.
UK-based development finance institution CDC Group Plc sold a 3.95 percent equity stake in financial services company IIFL Finance via open market transactions on September 16. The stock corrected 4.69 percent to settle at Rs 294.50.
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CDC Group has offloaded shares through transactions, selling 50 lakh equity shares in the company at Rs 295.47 per share on the NSE and 1 crore shares at Rs 294.52 per share on the BSE, the bulk deal data showed.
As per the shareholding pattern of June 2021, CDC Group Plc held 5,85,01,587 equity shares or a 15.44 percent stake in IIFL Finance.
The stock was trading at Rs 279.80, down Rs 14.70, or 4.99 percent. It has touched an intraday high of Rs 299.90 and an intraday low of Rs 279.80. There were pending sell orders of 164,917 shares, with no buyers available.
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