JPMorgan had last evening issued a term sheet for a block deal in which Standard Chartered Bank offered to sell its entire 7.18% stake at a floor price of Rs 1,672 per share. The deal size is estimated to be worth Rs 1,250 crore at floor price. But a confirmation about the deal would come in the evening when exchanges release block deal data.
According to exchange data, the bank has offloaded 75 lakh shares or 7.1% stake in the company at Rs 1,688.4, taking the deal value to around Rs 1,266 crore.