MUMBAI (Reuters) - Goldman Sachs will sell shares worth up to $110 million in India’s Max Financial Services Ltd on Friday, according to a deal term sheet seen by Reuters.
Two Goldman units are offering to sell a 4.42 percent stake, or 11.8 million shares, in Max Financial in a block trade, the term sheet showed.
The share sale’s floor price has been set at 595 rupees, which is a 0.8 percent discount to the stock’s Thursday closing price.
Citi is the sole bookrunner.
In April, Goldman sold a 3.7 percent stake in Max Financial.
Reporting by Savio Shetty and S. Anuradha; Editing by Mark Potter