PE investors Baring India, Sequoia Capital and Siguler Guff buy 4.75% stake in Manappuram Finance Ltd

The Promoter Mr. V.P. Nandakumar has sold approximately 4.75% of the equity shares of Manappuram Finance Limited through a trade during normal trading hours on the National Stock Exchange of India Limited and the Bombay Stock Exchange. The acquirers include marquee PE investors led by Baring India, Sequoia Capital and Siguler Guff.

Mr. V.P. Nandakumar had already informed the company of his intention to sell equity shares of the company to fulfill his obligations to repay all outstanding public deposits of Manappuram Agro Farms (his sole proprietary concern), to honour his commitment to the deposit holders of Manappuram Agro Farms and to the board of the company.



The Manappuram Finance Ltd stock was trading at Rs.46.80, up by Rs.0.80 or 1.74%. The stock hit an intraday high of Rs.48.25 and low of Rs.45.40.

The total traded quantity was 24.12 lakhs compared to 2 week average of 17.07 lakhs.

Source : Equity Bulls

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