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Quinag picks up stake in Manappuram Finance for Rs 143 cr

Fund house bought over 1 cr shares of the NBFC at a trade price of Rs 94.73 per share

Press Trust of India  |  New Delhi 

Mannapuram Finance
(Photo courtesy: Mannapuram Finance)

Foreign fund house on Monday bought 1.51 crore of Manappuram for over Rs 143 crore, through an open market transaction.

According to the bulk deal data available with the BSE, (FPI) purchased 1.51 crore or 1.79 per cent in the non-banking financial company (NBFC).

The were acquired at an average price of Rs 94.73 apiece, valuing the transaction at Rs 143.04 crore, as per the data.

The seller of the shares could not be ascertained immediately.

Manappuram stock settled the day on at Rs 94.55, up 11.37 per cent from the previous close.

Apart from loan against gold, the also provides commercial vehicle loan, housing and small and medium enterprise (SME) loan.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, August 21 2017. 21:39 IST