Private equity major KKR's unit Moneyline Portfolio Investments sold 85 lakh shares in Max Financial Services on Wednesday at Rs 605.02 per share, bulk deal data on the BSE showed.
The name of the buyers could not be ascertained immediately. Moneyline Portfolio held 2.66 crore shares or 9.94% stake in Max Financial at the end of June. Shares of Max Financial ended up 0.84% at Rs 605.10 on the BSE, off its day's high of Rs 624.
KKR had acquired the stake in Max Financial in February 2016 from a group of promoters including Analjit Singh, to become the largest institutional shareholder in the company.
Besides Moneyline, Barron Emerging Markets Fund held 28.15 lakh shares or 1.05% stake in Max Financial, while Morgan Stanley (France) S.A. held 44.69 lakh shares or 1.67% stake, shareholding data for the quarter ended June showed.
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