Tata AIA Life, Temasek buys 1.4 pc stake in SBFC Finance for Rs 161 cr

New Delhi, Dec 16 (PTI) Tata AIA Life Insurance Company and Aranda Investments, an affiliate of Temasek Holdings, on Tuesday bought a total of 1.53 crore shares, representing 1.4 per cent stake, of SBFC Finance for Rs 161 crore from Massachusetts Institute of Technology through open market transactions.

According to the block deal data available on the NSE, Tata AIA Life Insurance Company Ltd bought 82.31 lakh shares and Aranda Investments Pte Ltd purchased 71.33 lakh shares of SBFC Finance.

The shares were acquired at an average price of Rs 105.14 apiece, taking the transaction value to Rs 161.54 crore.

Meanwhile, US-based private research university Massachusetts Institute of Technology (MIT) offloaded the same number of shares through its three affiliates at the same price on the NSE.

Shares of SBFC Finance rose 0.44 per cent to close at Rs 105.60 apiece on the National Stock Exchange (NSE). PTI HG HG MR