Manappuram Finance Shares dived down 4% to Rs 141.30 on the NSE during the intraday session of 24 August after almost 11% of the company’s equity changed hands in a block deal.

At 9:15 am, around 88.4 million shares, summing up to 10.44% of the company’s total equity, changed hands via a block deal. The names of the buyers and sellers have yet to be revealed.

Amongst the company promoters, Vice President Nandakumar holds a 29% stake in the company, whereas Jyoti Nandakumar holds a 5.67% stake in the company.

Amongst the FPI (foreign portfolio investors), Bnp Paribas Arbitrage holds 1.74% of the company’s stake, whereas Bofa Securities Europe Sa has a 1.44% stake.

Quinag Acquisition is the biggest foreign institutional investor, with a 9.9% stake in the company as of 30 June.

Among the Mutual funds, the DSP midcap fund holds a 2.43% stake in Manappuram Finance, while the SBI contra fund holds a 1.19% stake in the company.

The shares of Manappuram Finance have outperformed the market by gaining nearly 40% against the 10.7% rise in the benchmark index.

The company also had an outstanding performance during the April-June quarter as the company reported a 76% YoY increase in net profit to Rs 498 crore and a 34% YoY increase in revenue to Rs 2,026 crore for Q1FY24.

At 11:20 am, the shares of Manappuram Finance were trading at Rs 143.50 or 1.78% below its previous close on NSE.