FII offloads 1.3 million Bajaj Finance shares for Rs163 crore

El Dorado Holdings, a foreign institutional investor (FII) offloaded about 1.3 million shares of Bajaj Finance at an average price of Rs1,260, raising Rs163 crore, stock exchange data showed.

As per stock exchange data on bulk deals, El Dorado Holdings II Ltd sold 9,91,500 shares on the NSE and El Dorado Holdings I offloaded 3 lakh shares on the BSE.

HDFC Standard Life Insurance is reported to have picked up 6.25 lakh shares of Bajaj Finance for Rs78.75 crore at an average price of Rs1,260.

Earlier this week, the El Dorado Holdings had sold 5 lakh shares of Bajaj Finance.

As of 11 December, El Dorado Holdings II Ltd held 1.65 million shares, or 3.87 per cent stake, in Bajaj Finance while El Dorado Holdings I Ltd owned 6.07 lakh shares or 1.42 per cent holding in the NBFC.

Bajaj Finance clocked volume of 3.63 lakh shares by 13:14 IST on BSE, a 69.64-times surge over two-week average daily volume of 5,000 shares.

The stock was down 1.67 per cent at Rs1,280 after two block deals were executed on BSE. A block deal of 50,001 shares was executed at Rs1,285 at 10:55 IST. Another block deal of 3 lakh shares was executed at Rs1,260 at 11:40 IST. The block deals constitute 0.81 per cent of Bajaj Finance's equity.