Two individuals offload Poonawalla Fincorp shares worth Rs 120 cr

Two individuals on Wednesday offloaded shares of Poonawalla Fincorp Ltd worth Rs 120 crore through open market transactions.

According to block deal data available with the BSE, Sanjay Chamria and Mayank Poddar sold 27,06,350 shares each at an average price of Rs 222 apiece, taking the transaction size to Rs 120.16 crore.

Chamria served as the vice-chairman and managing director of Magma Fincorp (now known as Poonawalla Fincorp Ltd), while Mayank Poddar served as the chairman emeritus of the company.

Celica Ventures and Microfirm Capital Pvt Ltd picked up the shares at the same price.

Shares of Poonawalla Fincorp closed 0.44 per cent higher at Rs 226.10 on BSE.

Last week, Chamria and Poddar disposed of 26,25,000 and 26,23,581 shares of the company.