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Manappuram Finance slips 6% after 5% equity changes hands in block deals
Posted on 4th February 2020
Shares of Manappuram Finance slipped 6 per cent to Rs 174 on the BSE in the early morning deal on Tuesday after nearly 5 per cent of total equity of gold finance company changed hands via block deals.

At 09:15 am, around 43.05 million shares of Manappuram Finance have changed hands via block deals on the BSE, the exchange data shows. The name of the buyers and sellers were not ascertained immediately.

According to a Bloomberg report, Baring India Private Equity Fund II is offering 42 million shares (5 per cent) of the company in an accelerated book-building with a floor price of Rs 172 per share, which are at a discount of 6.57 per cent to the last closing prices.

As on December 31, 2019, Baring Fund has 8.76 per cent stake or 74 million shares in the company, the shareholding pattern data shows.
In the past six months, the stock of Manappuram Finance has outperformed the market by surging 63 per cent, against 7.4 per cent rise in the S&P BSE Sensex till Monday. It hit an all-time high of Rs 195 on January 29, 2020.

At 10:06 am, the stock was trading 5 per cent lower at Rs 176 on the BSE, as compared to 1.2 per cent rise in the benchmark index. A combined 63.8 million shares, representing 7.5 per cent of total equity, of Manappuram Finance changed hands on the BSE and NSE so far.
Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

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