In open market transactions on Wednesday, four entities sold shares of the NBFC company Spandana Sphoorty Financial for Rs 268 crore.
Valiant Mauritius Partners FDI, Valiant India Opportunities, Valiant Mauritius Partners and Valiant Mauritius Partners Offshore were the entities that sold the shares of Spandana Sphoorty Financial on the BSE.
According to BSE Bulk Deal data, they offloaded a total of 35 lakh shares of Spandana in four tranches.
The shares were sold in the price range of Rs 765-765.38 apiece, taking the combined transaction value to Rs 267.78 crore.
Meanwhile, Max Life Insurance Company bought more than 13.52 lakh shares in two tranches and Kotak Mahindra Life Insurance Company bought 9.24 lakh shares of Spandana Sphoorty Financial at an average price of Rs 765 apiece.
This took the combined deal value to Rs 174.24 crore.
On Wednesday, shares of Spandana Sphoorty Financial declined 2.70 per cent to close at Rs 799.10 apiece on the BSE.
As per the company filings, the total consolidated revenue increased by 103% YoY from Rs. 258.8 Cr in Q1 FY23 to Rs. 527.2 Cr in Q1 FY24 and the company reported a net profit of Rs. 119.4 Cr in Q1 FY24 against a loss of Rs. 219.7 Cr in Q1 FY23.
As a microfinance organization, Spandana Sphoorty Financial Limited conducts business. It primarily provides income-generating loans to women from low-income rural households using the joint liability group model. Additionally, it provides loans for gold, interim loans, loans secured by property, and other things.
