MFSL is the holding firm for Max Life Insurance company and New York Life was its foreign partner in early 2000
Mumbai:
A promoter entity of Max Financial Services Ltd (MFSL),Max Ventures Investment Holdings , on Wednesday offloaded the company’s shares worth Rs 94 crore through an open market transaction.
The shares were disposed of at an average price of Rs 629.75 apiece, taking the aggregate value to Rs 94.46 crore.
These shares were acquired by New York Life Insurance Company at the same price.
MFSL is the holding firm for Max Life Insurance company and New York Life was its foreign partner in early 2000.
According to the block deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 14,99,997 shares of MFSL.
On Wednesday, shares of Max Financial Services closed 2.87 per cent higher at Rs 647.80 apiece on the NSE.