FII sells 5 lakh Bajaj Finance shares for Rs 65 cr

Foreign institutional investor El Dorado Holdings Ltd today offloaded five lakh shares in NBFC firm Bajaj Finance for Rs 65 crore.

As per bulk data available with the stock exchanges, El Dorado Holdings II Ltd, sold a total of five lakh shares of Bajaj Finance, the lending arm of Bajaj Finserv.

These shares were sold on an average price of Rs 1,300.05 apiece aggregating to a deal size of Rs 65 crore, data showed. However, the buyer of the shares could not be ascertained.

At the end of September quarter, El Dorado Holdings II Ltd held 16.55 lakh shares or 3.87 per cent stake in Bajaj Finance, El Dorado Holdings I Ltd owned 6.07 lakh scrips or 1.42 per cent holding in the NBFC firm.

Commenting on the Banking Bill, Rajat Rajgarhia, Director Research, Motilal Oswal Financial Services said: "Many NBFCs which are planning to convert themselves into banks are already starting at a reasonably good loan size book be it Shriram Transport, Mahindra and Mahindra Financials or Bajaj Finance."

Shares of Bajaj Finance rose by 1.43 per cent to settle at Rs 1,309.15 apiece on the BSE.

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