Hudson Equity sells 1.8 crore shares of Manappuram for Rs 77.4 crore
Mumbai: Hudson Equity Holdings, a shareholder of Manappuram Finance, Friday sold 1.8 crore shares of the gold mortgage company for over Rs 77 crore through an open market transaction.
As per the bulk deal data on the stock exchanges, Hudson Equity Holdings, which held 7.2 crore shares or 8.54 percent stake at end of quarter ending September 2012 in Manappuram Finance, offloaded 1.8 crore shares of the company.
The shares were sold at an average price of Rs 43.01 apeice, valuing the deal at Rs 77.42 crore.
Besides, MS GMO Emerging Domestic Opportunities Fund acquired 56.63 lakh shares of Manappuram Finance for Rs 24.35 crore, the data showed.
In a separate bulk deal, Adroit Share & Stock Broker purchased 96.37 lakh shares of IFCI for about Rs 35 crore.
The shares were bought at an average price of Rs 36.46 apiece.
Shares of Manappuram Finance jumped 6.54 percent to settle at Rs 43.20 apiece, on the BSE.