SBFC Holdings Cuts Stake in SBFC Finance, Shares Climb Amid NSE Transactions

SBFC Holdings Pte decreased its stake in SBFC Finance by 1.3% through a transaction worth Rs 112 crore. The shares were sold at Rs 82 each, lowering SBFC Holdings' stake to 53.49%. Meanwhile, Goldman Sachs sold Mahindra Lifespace shares, causing a rise in their market value.

SBFC Holdings Pte, a significant promoter of the non-banking financial entity SBFC Finance, divested 1.3 per cent of its stake, translating to over 1.36 crore shares, through an open market transaction valued at Rs 112 crore. This move saw its shareholding dip to 53.49 per cent from 54.75 per cent previously.

The shares were sold at an average price of Rs 82 each, and after the transaction, SBFC Finance shares saw a small uptick, closing 0.57 per cent higher at Rs 84.64 per share on the National Stock Exchange (NSE). The identity of the purchasers remains undisclosed as per NSE data.

In parallel, another major transaction on the NSE involved Goldman Sachs offloading 8.44 lakh shares of Mahindra Lifespace Developers at an average price of Rs 330.31 per share, amounting to Rs 28 crore. Shares of Mahindra Lifespace surged by 6.08 per cent, closing at Rs 330 per share.

(With inputs from agencies.)