A significant block deal is set to take place in Nuvama Wealth Management, with Edel Finance Company Limited and Ecap Equities Ltd divesting part of their holdings. The offer floor price is pegged at INR 6,445.00 per equity share, a 5.0% discount to the last closing price on the NSE.
Key Details:
- Block Size: The deal will involve 6.4% of the total equity, valued at INR 1,464.8 crore at the floor price.
- Lock-up Period: Sellers have agreed to a 75-day lockup, preventing further sales of shares during this time.
- Stake Held:
- Ecap Equities Ltd held 8.44% of Nuvama Wealth Management at the end of Q1.
- Edel Finance Company Limited held a 5.18% stake as of Q1.
This block deal marks a significant transaction, which may impact Nuvama Wealth Management’s stock as investors watch for market reactions.
