Aptus Value Housing shares drop 8% after Rs 1140 crore block deal; 7.4 percent equity changes hands
Shares of Aptus Value Housing Finance slipped over 8 percent in early trade on Tuesday after a large block deal hit the counter.
At 9:28 AM, Aptus Value Housing shares were trading at Rs 308.55 on the NSE, down 8.31 percent from the previous close of Rs 336.50. The stock touched a low of Rs 305.50 earlier in the session.
According to block deal data, around 7.4 percent equity — translating to approximately 37.1 crore shares — changed hands in a block deal valued at about Rs 1,140 crore.
The identity of buyers and sellers is yet to be confirmed. Reports had earlier indicated that private equity firm Westridge Investments was looking to offload around 9.8 percent stake via block deals, with a floor price set at Rs 305 per share.
Tuesday's transaction indicates healthy demand around the offered price, though the selling pressure has dragged the stock lower in opening trade.
News desk at BusinessUpturn.com
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