Max Financial Services trades in green as its promoter sells 58.85 lakh shares in company
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Max Financial Services is currently trading at Rs. 694.25, up by 4.75 points or 0.69% from its previous closing of Rs. 689.50 on the BSE.
The scrip opened at Rs. 688.05 and has touched a high and low of Rs. 697.15 and Rs. 684.00 respectively. So far 15872 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1081.00 on 11-Jan-2022 and a 52 week low of Rs. 627.80 on 23-Nov-2022.
Last one week high and low of the scrip stood at Rs. 722.40 and Rs. 680.15 respectively. The current market cap of the company is Rs. 23826.72 crore.
The promoters holding in the company stood at 14.72%, while Institutions and Non-Institutions held 77.47% and 7.80% respectively.
Max Financial Services’ promoter -- Max Ventures Investment Holdings has sold 58.85 lakh shares in the company for Rs 400 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 58,85,000 shares (1.7 per cent) of Max Financial Services.
The shares were sold at an average price of Rs 679.2 per scrip, taking the aggregate value of transaction at Rs 399.70 crore. Following the stake sale, the shareholding of promoter has come down to 13.02 per cent from 14.72 per cent.
Max Financial Services is a part of the Max group, an Indian multi business corporation.
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