Bajaj Finserv promoter companies are going to sell their 1.58 per cent stake. This transaction will be through block deal, which can be around Rs 4,750 crore. Several sources who have been aware of this case have told Moneycontrol about this. Currently, promoter companies hold 60.64 per cent stake in Bajaj Finserv.
One of the sources giving information about this said, “The process of block deal has started to sell some stakes of promoters. There is an option to sell an additional 1,080 crore stake. If this option is used, the total size of the block deal will increase to about Rs 5,830 crore.” A floor price of Rs 1,880 has been kept for this deal. This is a discount of 3.3 per cent on 5 June from the closed price of Bajaj Finserv shares.
Kotak Mahindra Capital is cooperating in this deal. In the last six months, the prices of Bajaj Finserv shares have risen 18.3 percent. In the last one year, the stocks have climbed 28 per cent. There was no response to the email sent by Moneycontrol to Bajaj Finserv and Kotak Mahindra Capital. On March 17, Bajaj Finserv said that it has approved the plan to purchase a 26 per cent stake of Alasus SE in Joint Insurance Venture Bajaj Alliance General Insurance and Bajaj Allenn Life Insurance. To purchase this 26 stake, Rs 13,780 crore and Rs 10,400 crore will have to be paid respectively.
