April 20, 2017 / 11:57 AM / 4 months ago

Goldman to sell up to $123 million worth shares in Max Financial - term sheet

A sign is displayed in the reception of the Sydney offices of Goldman Sachs in Australia, May 18, 2016.David Gray/File Photo

MUMBAI (Reuters) - Goldman Sachs will sell shares worth up to $123 million in India's Max Financial Services Ltd on Friday, according to a deal term sheet seen by Reuters.

Goldman will sell up to 3.74 percent stake in Max Financial in a block trade, the term sheet revealed.

The share sale's floor price has been set at 607 rupees apiece. Max Financial shares closed at 650.95 rupees on Thursday on the National Stock Exchange.

Reporting by Savio Shetty and S. Anuradha of IFR; Editing by Sherry Jacob-Phillips

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