SKS Microfinance has dipped over 5% to Rs 125 on BSE after founder Vikram Akula and private equity firm Sequoia Capital sold over 2.4 million shares of the company for about Rs 32 crore through open market.
The stock opened at Rs 135 and has seen a combined around 150,000 shares changing hands on the counter till 0920 hours on BSE and NSE.
On September 3, Vikram Akula sold his entire residual holding of 906,724 shares, or 0.84% stake for Rs 12 crore, while Sequoia Capital also sold 1.5 million shares of the Hyderabad-based company for around Rs 20 crore, according to bulk deal data available on BSE.
The shares were offloaded on an average price of Rs 132 through open market route, data showed.
Meanwhile, SKS Mutual Benefit Trust Medak picked up 1.03 million shares of the microfinance player in a transaction worth Rs 13.41 crore.
Yesterday, the stock had rallied nearly 12% on BSE.
The stock opened at Rs 135 and has seen a combined around 150,000 shares changing hands on the counter till 0920 hours on BSE and NSE.
On September 3, Vikram Akula sold his entire residual holding of 906,724 shares, or 0.84% stake for Rs 12 crore, while Sequoia Capital also sold 1.5 million shares of the Hyderabad-based company for around Rs 20 crore, according to bulk deal data available on BSE.
The shares were offloaded on an average price of Rs 132 through open market route, data showed.
Meanwhile, SKS Mutual Benefit Trust Medak picked up 1.03 million shares of the microfinance player in a transaction worth Rs 13.41 crore.
Yesterday, the stock had rallied nearly 12% on BSE.
