In a large trade on Tuesday, August 12, about 1.10 crore shares of Medi Assist Healthcare Services Ltd, representing 15.67% equity, changed hands in a block deal window. The transaction was valued at approximately Rs 578 crore, with shares exchanged at Rs 523 apiece.
Earlier, reports suggested that promoter entity Bessemer India was likely to sell up to a 4% stake in the insurance-tech company through block deals. Sources privy to the matter told CNBC-TV18 that the proposed offer size was around Rs 560 crore, with a floor price set at Rs 507 per share. This floor price was 4% lower than the company’s prevailing market price at the time.
The identity of the buyers and sellers in today’s block deal has not yet been disclosed. Medi Assist shares closed 3.43% higher at Rs 546.00 on the NSE.
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