{"id":108085,"date":"2023-08-25T14:52:53","date_gmt":"2023-08-25T09:22:53","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=108085"},"modified":"2023-08-25T14:52:56","modified_gmt":"2023-08-25T09:22:56","slug":"promoter-of-max-financial-services-reduces-shareholding-by-3-6-for-rs-1091-crore","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/promoter-of-max-financial-services-reduces-shareholding-by-3-6-for-rs-1091-crore\/","title":{"rendered":"Promoter of Max Financial Services reduces shareholding by 3.6% for Rs. 1,091 crore"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1142824210\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Max Ventures Investment Holdings, one of the promoters of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/MFSL\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Max Financial Services<\/a><\/strong>, offloaded a 3.6 per cent stake in the company for Rs 1,091 crore through open market transactions.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3335319734\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Nippon India Mutual Fund (MF), ICICI Prudential MF, Kotak MF, Kotak Mahindra Life Insurance, HDFC Standard Life Insurance, Morgan Stanley Asia Singapore, International Monetary Fund and Plutus Wealth Management among others were the buyers of the shares of MFSL on both BSE and NSE.<\/p><p>Max Financial Services Ltd (MFSL) is the holding firm for Max Life Insurance Company. Max Ventures Holdings offloaded the shares of MFSL in 11 tranches on the BSE.<\/p><p>Max Ventures Investment Holdings sold a total of 1.25 crore shares, amounting to a 3.6 per cent stake in Max Financial Services, as per the block deal data available with the BSE and NSE.<\/p><div class=\"trade-content_5\" id=\"trade-589714613\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The shares were disposed of at an average price of Rs 873 apiece on both BSE and NSE, taking the combined transaction value to Rs 1,091.25 crore.<\/p><p>Shares of Max Financial Services jumped 3.12 per cent to close at Rs 909 apiece on the NSE and climbed 2.63 per cent to settle at Rs 904.80 per piece on the BSE.<\/p><p>In a separate open market transaction on the BSE, CDC Group Plc divested a 1.6 per cent stake in RBL Bank for Rs 229 crore through an open market transaction.<\/p><p>CDC Group Plc is the development finance institution of the UK government.<\/p><p>According to the bulk deal data available with the BSE, CDC Group Plc offloaded 99,42,312 shares, amounting to a 1.6 per cent stake in RBL Bank.<\/p><p>The shares were disposed of at an average price of Rs 230.02 apiece, taking the transaction value to Rs 228.69 crore.<\/p><div class=\"trade-content-10\" id=\"trade-873923853\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Post the transaction, the shareholding of CDC Group has declined to 3.93 per cent from 5.53 per cent stake in RBL Bank at the end of June quarter.<\/p><p>Details of the buyers could not be ascertained.<\/p><p>On Thursday, shares of RBL Bank fell 0.41 per cent to close at Rs 229.30 per piece on the BSE.<\/p><div class=\"trade-after-content\" id=\"trade-2226069491\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Max Ventures Investment Holdings, one of the promoters of Max Financial Services, offloaded a 3.6 per cent stake in the company for Rs 1,091 crore through open market transactions. Nippon India Mutual Fund (MF), ICICI Prudential MF, Kotak MF, Kotak Mahindra Life Insurance, HDFC Standard Life Insurance, Morgan Stanley Asia Singapore, International Monetary Fund and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":81130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-108085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Promoter of Max Financial Services reduces shareholding by 3.6% for Rs. 1,091 crore - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Max Ventures Investment Holdings, one of the promoters of Max Financial Services, offloaded a 3.6 per cent stake in the company for Rs 1,091 crore through open market transactions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/promoter-of-max-financial-services-reduces-shareholding-by-3-6-for-rs-1091-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Promoter of Max Financial Services reduces shareholding by 3.6% for Rs. 1,091 crore\" \/>\n<meta property=\"og:description\" content=\"Max Ventures Investment Holdings, one of the promoters of Max Financial Services, offloaded a 3.6 per cent stake in the company for Rs 1,091 crore through open market transactions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/promoter-of-max-financial-services-reduces-shareholding-by-3-6-for-rs-1091-crore\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-25T09:22:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-25T09:22:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/money-cover-image-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/promoter-of-max-financial-services-reduces-shareholding-by-3-6-for-rs-1091-crore\/\",\"url\":\"https:\/\/tradebrains.in\/features\/promoter-of-max-financial-services-reduces-shareholding-by-3-6-for-rs-1091-crore\/\",\"name\":\"Promoter of Max Financial Services reduces shareholding by 3.6% for Rs. 1,091 crore - 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