3 entities sell shares of Five Star Finance for Rs 1,863 cr via open market

Three entities on Friday offloaded 2.55 crore shares of non-banking financial company Five-Star Business Finance for Rs 1,863 crore through open market transactions.

Following the share sale, shares of Five-Star Business Finance plunged 5.89 per cent to close at Rs 727.80 apiece on the BSE.

Norwest Venture Partners X Mauritius, Matrix Partners India Investment Holdings II LLC and TPG Asia VII SF Pte were the entities that sold the shares of Five-Star Business Finance on the BSE.

According to the bulk deal data on the BSE, they offloaded a total of 2.55 crore shares of Five-Star Business Finance in four tranches.

The shares were sold in the price range of Rs 730-730.62 apiece, taking the combined transaction value to Rs 1,862.86 crore.

Meanwhile, HDFC Mutual Fund acquired 41.19 lakh shares of Five-Star Business Finance, at an average price of Rs 730 apiece, taking the deal value to Rs 300.71 crore.