Nippon Life slips after block deal with IndusInd Bank; ICICI Pru and SBI MF buy stake
In the block deal on Wednesday, IndusInd Bank sold 1.78 crore (2.8 per cent) of its shares in Nippon Life at Rs 445.35 per share. ICICI Prudential bought 63.8 lakh (1.02 per cent) shares at Rs 445.35 per share. On the other hand, SBI MF bought 77.82 lakh (1.24 per cent) shares at Rs 445.35 per share.
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Nippon Life Share Price: A day after hitting an all-time high, the stock of Nippon Life India Asset Management Ltd started the trading session on BSE on Thursday (December 21, 2023) on a lower note as it declined post the asset management company's block deal.
Nippon Life shares were trading lower by 0.39 per cent, or Rs 1.80, at Rs 457.20 each on Thursday.
On Wednesday, the Nippon Life stock had hit an all-time high of Rs 486.80.
What is Nippon Life's block deal?
In the block deal on Wednesday, IndusInd Bank sold 1.78 crore (2.8 per cent) of its shares in Nippon Life at Rs 445.35 per share.
In the deal, there were a total of 10 buyers.
ICICI Prudential bought 63.8 lakh (1.02 per cent) shares at Rs 445.35 per share.
On the other hand, SBI MF bought 77.82 lakh (1.24 per cent) shares at Rs 445.35 per share.
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