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Bajaj Finserv Promoters Close Rs 5,506 Crore Block Deal, Shares Gain

Institutional investors bought the entire 1.8% stake at an average Rs 1,925.20 per share.

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Bajaj Finserv block deal worth Rs 4,750 crore likely Friday; floor price set at Rs 1,880
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Overview

  • Promoters Bajaj Holdings & Investment and Jamnalal Sons sold 2.86 crore shares through block deals on June 6.
  • ICICI Prudential Mutual Fund, SBI Mutual Fund and Morgan Stanley Asia Singapore Pte were among the largest institutional buyers.
  • The transaction reduced promoter holdings to 58.84%, down from 60.64% previously.
  • Shares of Bajaj Finserv rose 2.30% to close at Rs 1,988.70 on the NSE following the deal.
  • The sale follows a strong quarter in which the company reported a 14% rise in fourth-quarter net profit to Rs 2,417 crore and maintained assets under management above Rs 400,000 crore.