Five Star Business Finance bulk deal; 2.3 crore shares sold, Matrix Partners likely

According to reports, Matrix Partners India is the likely seller in the Rs 1,704 crore deal.

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A block deal involving around 2.3 crore shares 8% equity) of Five Star Business Finance,  changed hands at a floor price of Rs 370 per share on December 8. The total value of the transaction was Rs 1,704 crore.

Shares of Five Star Business Finance fell 3 percent at open, post the deal. At 9:20 am, the stock was trading at Rs 731.75.

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Earlier during the day on December 6, sources told Moneycontrol that a group of investors – Peak XV Partners (formerly Sequoia Capital), TPG and Matrix Partners were planning to sell part of their stake in Five Star Business Finance via a block deal. According to one of the sources, the three investors were planning to divest part stake in a block deal with a combined base size worth $150 million and an upsize option of around $75 million.

Also read | Peak XV Partners ,TPG and Matrix Partners may sell part stake in Five Star Business Finance

For the quarter ending September 2023, Five Star Business Partners reported a 38 percent year-on-year growth in profit after tax to Rs 199 crore from Rs 144 crore in September 2022. Disbursement for the same period grew 50 percent y-o-y to Rs 1,204 crore, while the AUM for the same period was up 24 percent y-o-y to Rs 8,264 crore.

The Mumbai-based NBFC provides small business and mortgage loans.

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