Goldman unit launches up to US$82m block deal in Max Financial

[MUMBAI] A unit of Goldman Sachs has launched a block deal to sell up to US$82.1 million worth of shares in Max Financial Services Ltd with an upsize option of $41.1 million, a deal term sheet showed on Monday.

The unit, GS Mace Holdings Ltd, is selling up to 10 million shares in Max Financial at a floor price of 550 rupees per share, according to the term sheet seen by Reuters.

The deal can be upsized by up to US$41.1 million through the sale of an additional up to 5 million shares, the term sheet showed.

The floor price of the offering is at a 7.52 per cent discount to Max Financial's Monday closing share price of 594.75 rupees on the National Stock Exchange.

REUTERS