Reuters Market Eye - Shares in private sector lender Federal Bank Ltd (FED.NS) fall 2.5 percent after L&T Finance Holdings Ltd (LTFH.NS) sold 7.99 million shares in the bank at an average price of 453.37 rupees
L&T Finance on Monday said it plans to raise about $65 million by selling its 4.7 percent stake in the bank, according to a source and a term sheet obtained by Reuters.
Dealers say less bids at top end of the price range for block sale is keeping the stock under pressure.
Trending On Reuters
Record IPO Demand
A $75-million market debut for Indian parcel delivery firm VRL Logistics Ltd has encountered record demand, drawing bids for more than 70 times the number of shares on offer late last week, as investors bet on an e-commerce boom. Read