Shares of SBFC Finance Ltd were trading in the red and 4% lower on 30 April after 6 crore shares changed hands via a block deal.

Around 6 crore shares of the company, representing 5.6% of its equity, changed hands on the exchanges at an average price of Rs 89 per share. 

However, the buyers and sellers involved in this deal are yet to be identified. 

Earlier, media outlet CNBC-TV18 reported that the company’s promoter group was looking to offload its entire stake of 5.45% in the company worth Rs 536.5 crore via a block deal. 

The company shares made its debut on Dalal Street on 16 August 2023, listing at a 44% premium to its issue price of Rs 57 per share. 

The company was founded in 2008 and is a non-deposit-taking, non-banking financial bank that offers loans, including secured MSME loans and loans against gold, primarily to small business owners, self-employed individuals, entrepreneurs, and salaried and working-class individuals. 

At 12:25 pm, the shares of SBFC Finance were trading 3.38% lower at Rs 88.55 on NSE.