Aprwood Partners divested stake in SBFC Finance for Rs. 494 crore

Arpwood Partners sold its 5.2% stake in SBFC Finance for Rs 494 crore. The shares were acquired by Custody Bank of Japan, Morgan Stanley, and SBI Mutual Fund. In a separate transaction, ICICI Prudential Mutual Fund purchased shares of Nirlon for Rs 145 crore.

Arpwood Partners on Tuesday divested its entire 5.2 per cent stake in non-banking financial company SBFC Finance for Rs 494 crore through open market transactions.

Arpwood Partners through its affiliates, Arpwood Partners Investment Advisors LLP and Arpwood Capital Pvt Ltd, sold the shares of SBFC Finance through separate bulk deals on the National Stock Exchange (NSE).

As per the data on the NSE, Arpwood Partners Investment Advisors offloaded more than 4.51 crore shares of SBFC Finance and Arpwood Capital 1.10 crore shares of the company, amounting to a 4.2 and 1.03 per cent stake, respectively.

The shares were disposed of within the price range of Rs 88.03-88 apiece, taking the combined transaction value to Rs 494 crore.

Meanwhile, Custody Bank of Japan Ltd RE RB Amundi India Small Cap Equity Mother Fund, Morgan Stanley Asia Singapore Pte and SBI Mutual Fund acquired a total of 3.75 crore shares of SBFC Finance.

The shares were purchased at an average price of Rs 88 per piece, taking the combined deal value to Rs 330.49 crore.

Shares of SBFC Finance plunged 5.07 per cent to close at Rs 87 apiece on the NSE.

In a separate transaction on the BSE, ICICI Prudential Mutual Fund (MF) acquired shares of Nirlon for Rs 145 crore through open market transactions.

According to the block deal data available on the BSE, ICICI Prudential MF bought a total of 33.78 lakh shares of Nirlon in four tranches at an average price of Rs 430 apiece on the BSE.

This took the deal value to Rs 145.28 crore.

Meanwhile, Albula Investment Fund sold 30 lakh shares of Nirlon and Lotus Global Investments disposed of 3.78 lakh shares of the company at the same price.

On Tuesday, shares of Nirlon rose 2.10 per cent to close at Rs 441.50 apiece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)