Mumbai: Shares of Edelweiss Financial Services Ltd on Friday opened sharply lower after three block deals. In the opening trade, the stock fell as much as 5% to touch a low of Rs127.25 a share but recovered soon and jumped 4%.

The scrip, however, closed almost flat as it rose up 0.07% to Rs134.20.

The company witnessed three block deals in which around 70.10 million shares or 8.4% stake of the company changed hands, according to a Bloomberg report.

However, details of the buyers and sellers were not known.

According to a CNBC report, First Carlyle Ventures sold its 9.2% stake in the company. As of Thursday’s close price First Carlyle Ventures stake valued at around 912 crore.