Route One Fund buys stake in Bharat Financial for Rs99 crore
Route One Fund bought 0.88% stake in Bharat Financial Inclusion for nearly Rs99 crore, through an open market transaction
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New Delhi: Route One Fund I, LP on Monday bought 0.88% stake in Bharat Financial Inclusion for nearly Rs99 crore, through an open market transaction. Bharat Financial Inclusion, formerly known as known as SKS Microfinance, is a for-profit NBFC-MFI (non-banking financial company-micro finance institution) regulated by the Reserve Bank of India.
As per the bulk deal data available on the NSE, Route One purchased 12.21 lakh shares amounting to 0.88% stake of NBFC-MFI. The shares were acquired at an average price of Rs809.14, valuing the transaction at Rs98.85 crore, as per the data. The seller(s) of the shares could not be ascertained immediately. Shares of Bharat Financial Inclusion today ended at Rs810 on the NSE, up 1.55% from the previous close.