April 20, 2017 / 1:53 PM / 5 months ago

Block launched in India’s Max Financial

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)

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