Manappuram Finance shares fall 2% amid reports of block deal

Details about the buyers and sellers are not yet known.

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Manappuram Finance shares were down 1.98 percent at Rs 143.2 at 9.47 am after 11 percent of the company’s equity changed hands in a block deal on August 24,  Bloomberg reported. However, details about the buyers and sellers are not yet known.

As of June 30, promoter VP Nandakumar has 29 percent stake in Manappuram Finance. Jyoti Nandakumar, another promoter has 5.67 percent stake in the company.

Among mutual funds, SBI contra fund has 1.19 percent stake in Manappuram Finance, whereas DSP midcap fund holds 2.43 percent.

Among Foreign Portfolio Investors, Bnp Paribas Arbitrage holds 1.74 percent of Manappuram Finance and Bofa Securities Europe Sa has 1.44 percent stake in the company.

Quinag Acquisition is the biggest foreign institutional investor in the stock with a 9.9 percent stake as on June 30, 2023.

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Net profit for the company increased 76 percent year-on-year to Rs 498 crore (YoY) in the April-to-June quarter. Revenue increased 34 percent YoY to Rs 2026 crore in the same period.

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