Foreign fund house Quinag Acquisition has offloaded its entire stake in Manappuram Finance for Rs 1,177 crore through an open market transaction. According to the bulk deal data available with the BSE, Quinag Acquisition (FPI) disposed of 8,37,85,880 shares amounting to a 9.90 per cent stake in Manappuram Finance. The shares were offloaded at an average price of Rs 140.50 apiece, taking the transaction value to Rs 1,177.19 crore.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
