Max Financial Services' promoter entity sells shares worth Rs 94 crore

The shares were disposed of at an average price of Rs 629.75 apiece, taking the aggregate value to Rs 94.46 crore.(Representative image)

A promoter entity of Max Financial Services Ltd (MFSL) on Wednesday offloaded the company's shares worth Rs 94 crore through an open market transaction.

MFSL is the holding firm for Max Life Insurance company.

According to the block deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 14,99,997 shares of MFSL.

The shares were disposed of at an average price of Rs 629.75 apiece, taking the aggregate value to Rs 94.46 crore.

These shares were acquired by New York Life Insurance Company at the same price.

On Wednesday, shares of Max Financial Services closed 2.87 per cent higher at Rs 647.80 apiece on the NSE.