Manappuram Finance slips 6% after 5% equity changes hands in block deals

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