3.5% stake in L&T Finance changes hands in a block deal, leading to a 4% share price increase.
L&T Finance shares gained 4% after a block deal involving 3.5% of the company's total equity changed hands. Bain Capital and BNP Paribas were reportedly looking to offload their remaining 3.5% stake in L&T Finance in a block deal, which would consist of offloading 8.82 crore equity shares at a price of Rs 169.17 apiece. The stock has surged 61% in the past year, while the BSE Sensex has risen 22%.
June 12, 2024
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