Five-Star Business Finance Block Deal: 11% equity worth ₹1976.4 crore changes hands #CashNews.co

As many as 3,2 crore shares, or 11% equity, of Five-Star Business Finance worth ₹1976.4 crore changed hands in two blocks at ₹802 per share on Thursday, September 26.

On Wednesday, it was reported that Five-Star Business Finance was to conduct a secondary block sale valued at ₹4,316.9 crore, confirming an exclusive by CNBC-TV18 earlier in the day.

The offering included up to 5.6 crore shares, representing 19.22% of the company’s total outstanding shares, it was reported.

Sources had earlier indicated that a large block deal was likely in Five Star Business Finance, with private equity investor like Peak XV Partners and others likely to sell up to 20% stake.

The indicative offer price was et at a floor price of ₹768. A lock-up period of 12 months was to apply for selling shareholders after the transaction.

Brokers handling the transaction include Nomura, Kotak, and Motilal.

As of the June quarter, Peak XV Partners owned a 6.25% stake in the non-banking financial company (NBFC), according to exchange data.

Shares of Five-Star Business Finance were trading 0.32% higher at ₹810.6 apiece at 9.30 am on Thursday, September 26.

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