Following a Rs 762 cr block sale, Nippon AMC shares surge 9%; IndusInd Bank divests all of its stake

21 Dec 2023 , 11:31 AM

Nippon Life India Asset Management Company’s shares surged by about 9% in the first trading session and reached a 52-week high of Rs 489 on December 20 following the exchanges’ execution of a block deal for Rs 762 crore.

At a floor price of Rs 427, a block deal of 1.78 crore shares, or 2.86% of Nippon Asset Management Company’s equity, was traded on the markets.

The floor price for the block deal was probably going to be Rs 426.60 per share, which would represent a reduction of more than 5% to the closing price of Rs 449.80 for the stock the previous day.

For feedback and suggestions, write to us at [e-mail]