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Bain Capital and BNP Paribas are selling their entire 3.54% stake in L&T Finance, amounting to 8.82 crore shares, at ₹169.17 each, totalling ₹1,500 crore ($180 million) in a block deal, slightly below Wednesday's closing price.
On Thursday, US-based investment firm Bain Capital and French banking giant BNP Paribas are set to divest their remaining stake in L&T Finance Holdings through block deals, marking a significant move in the financial markets.
Explore:L&t Finance Limited Share Price
Bain Capital and BNP Paribas will collectively sell 8.82 crore shares of L&T Finance Holdings, representing a 3.54% stake in the company. The sale is scheduled at a price of ₹169.17 per share, amounting to approximately ₹1,500 crore ($180 million).
This price reflects a slight discount of 0.85% from the closing price of ₹170.60 on Wednesday.
Previously, Bain Capital had gradually reduced its stake in L&T Finance Holdings, having sold a 2.82% stake (7 crore shares) in September last year at ₹130 per share, totalling ₹910 crore.
This sale reduced Bain Capital's ownership in the company to 1.2%. Meanwhile, BNP Paribas Financial Markets held a 2.43% stake in L&T Finance as of March 31, 2024.
Over the past week, the stock has gained about 10%, outperforming the Sensex index, which rose by 2.5% during the same period. This indicates investor confidence despite the upcoming stake sale.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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