SINGAPORE, April 20 (IFR) - A Rs7.9bn (US$122m) block trade has been launched in India’s Max Financial Services at a floor price of Rs607.
The transaction comprises a base deal of 10m shares with an upsize option of 3m shares.
The vendors are Xenok and GS Mace Holdings and there is a 90-day lock up.
The floor price represents a 6.75% discount to the pre-deal close of Rs650.95.
Citigroup is the sole bookrunner. (Reporting by Anuradha Subramanyan)