Three Entities Sell 2.55 Crore Shares of Five-Star for Rs 1,863 Crore; Stock Drops 5.89%

8 Dec 2023 , 01:59 PM

Three entities, including Norwest Venture Partners X Mauritius, Matrix Partners India Investment Holdings II LLC, and TPG Asia VII SF Pte, sold a total of 2.55 crore shares of Five-Star Business Finance for Rs 1,863 crore through open market transactions.

The sale caused Five-Star Business Finance shares to drop by 5.89%, closing at Rs 727.80 apiece on the BSE.

The entities offloaded the shares in four tranches, with the selling price ranging from Rs 730 to Rs 730.62 per share, resulting in a combined transaction value of Rs 1,862.86 crore.

Concurrently, HDFC Mutual Fund acquired 41.19 lakh shares of Five-Star Business Finance at an average price of Rs 730 per share, with a deal value of Rs 300.71 crore.

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