Max Ventures Investment Holdings, a promoter of financial services firm Max Financial Services, on Wednesday offloaded 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 have come down to 13.02 per cent from 14.72 per cent.
Shares of Max Financial Services closed 1.67 per cent lower at Rs 688 apiece on NSE.