Jack Ma-founded Antfin will be selling the shares at ₹880 apiece, a discount of nearly 3% to Thursday s closing price of ₹904.4. Citibank is the broker for the deal.
The transaction, which will be done at Rs 880.1 apiece, will see Antfin offload about 2.3 crore shares. On closing of this deal, CEO Vijay Shekhar Sharma s holding will increase to 19.42%, becoming the largest shareholder, whereas Antfin s will reduce to 13.5%
Earlier in May, Hulst BV had sold 3.5% stake in Coforge through the open market for Rs 887 crore. The private equity firm has been offloading stake in tranches in the company over the last 2-3 years
Under the block deal, Hulst BV will offload 1.62 crore shares and the deal value is estimated around Rs 7,400 crore. Hulst BV is owned by private equity firm Baring PE