SBFC Finance Promoters Divest Entire Stake For Rs 493 Crore
SBFC Finance promoter Arpwood Capital and Arpwood Partners Investment Advisors exit the company.
The promoters of SBFC Finance Ltd. divested their entire shareholding in the lender for Rs 493 crore on Tuesday. Arpwood Capital and Arpwood Partners Investment Advisors LLP have now exited the company.
Arpwood Capital Ltd sold 1.1 crore shares, representing 1.03% of the of the stake, at Rs 88.03 apiece, and Arpwood Partners Investment Advisors LLP sold 4.23% of the of the stake, comprising 4.51 crore shares, at Rs 88 apiece, according to bulk deal data on the NSE.
Arpwood Capital and Arpwood Partners Investment Advisors owned 1.03% and 4.20%, respectively, as of March.
On the other hand, SBI Mutual Fund bought 1.93 crore shares, representing 1.81% ownership at Rs 169 crore. SBI Small Cap Fund, as of March, held a 7.22% stake in the company.
Custody Bank of Japan Ltd. and RE RB Amundi India Small Cap Equity Mother Fund acquired 1.13 crore sharers (1.06%) at Rs 99.9 crore, while Morgan Stanley Asia Singapore Pte bought 0.64% stake, consisting of 68.74 lakh shares at Rs 88 apiece, according to NSE data.
Shares of SBFC Finance closed 4.69% lower on Tuesday at Rs 87.35 per share, as compared with a 0.17% decline in the Nifty 50.
