You are using an older browser version. Please use a supported version for the best MSN experience.

Quinag Acquisition buys stake in Manappuram Finance for Rs143 crore

LiveMint logoLiveMint 21-08-2017 PTI

New Delhi: Foreign fund house Quinag Acquisition on Monday bought 1.51 crore shares of Manappuram Finance for over Rs143 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% stake in the non banking financial company (NBFC). The shares were acquired at an average price of Rs94.73 apiece, valuing the transaction at Rs143.04 crore, as per the data.

The seller of the shares could not be ascertained immediately. Manappuram Finance stock settled the day on BSE at Rs94.55, up 11.37% from the previous close. Apart from loan against gold, the NBFC also provides commercial vehicle loan, housing finance and SME (small and medium enterprise) loan.

More From LiveMint

image beaconimage beaconimage beacon