Shares of IIFL Finance Ltd gained 3% on 26 December after 2.16 crore shares of the company changed hands on the bourse via a block deal.

Around 2.16 crore shares, representing a 5.7% stake in the company, changed hands on the exchanges for an average price of Rs 554.64 per share, taking the total transaction value to Rs 1,198.13 crore.

According to the bulk deal data, (FII) Foreign Institutional Investor FIH Mauritius Investments was the entity that offloaded its stake in the company. After this transaction, the FIH Mauritius Investments’ holding in the company has declined from 20.90% to 15.2%.

The buyers involved in the deal include Nomura India Investment Fund. Mother Fund picked up 26,20,411 equity shares, or 0.68 per cent of the company, for an average price of Rs 551.01 per share, considering Rs 144.4 crore. Moreover, Mansi Share & Stock Advisors Private Limited purchased 21,44,039 equity shares for an average price of Rs 555.42 a piece.

The company is a diversified non-banking finance company in India and is engaged in the business of loans and mortgages along with its subsidiaries.

At 3:30 pm, the shares of IIFL Finance Ltd closed 3.74% higher at Rs 594 on NSE.