Foreign fund house Quinag Acquisition on Monday bought 1.51 crore shares of Manappuram Finance for over Rs 143 crore, through an open market transaction.
According to the bulk deal data available with the BSE, Quinag Acquisition (FPI) purchased 1.51 crore shares or 1.79 per cent stake in the non-banking financial company (NBFC).
The seller of the shares could not be ascertained immediately.
Manappuram Finance stock settled the day on BSE at Rs 94.55, up 11.37 percent from the previous close.
Apart from loan against gold, the NBFC also provides commercial vehicle loan, housing finance and small and medium enterprise (SME) loan.
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Source: Business-Standard