Morgan Stanley bought more than 6.7 lakh shares of Niyogin Fintech for Rs 3.74 crore in a block sale on Tuesday, putting the company’s stock in the limelight on Wednesday. A share of the stock was bought for Rs 55.65. Think India Opportunities Master Fund LP, the seller in the deal, sold the same quantity of shares. The fund held 87,24,344 shares, or 9.17%, of the company as at September 30, 2024. The stock increased by 15% on Tuesday, peaking at Rs 63.60 before ending at Rs 62.20. The current market value of Niyogin Fintech is Rs 591.87 crore.
Reason behind high Share Price
The business began by developing a preeminent “Neobank” platform architecture to assist MSMEs with their financial inclusion, investments, credit-related needs, and SAAS services. The stock has underperformed for the last year, with a 14% decline in share price during that time. The loss has been more noticeable so far this year, with the stock’s price having dropped by 33%. In the past 12 months, the headline S&P BSE Sensex has produced 21% results, yet the underperformance has persisted.
Niyogin Fintech Block Deal
Through a block sale, Niyogin Fintech Think India Opportunities Master Fund LP sold Morgan Stanley Asia (Singapore) a 0.7% share in Niyogin Fintech. The trade value was ₹3.74 crore, with the average price per share at the time of the transaction being ₹55.65. With Morgan Stanley Asia purchasing the shares at a price that values the company’s stock at ₹55.65 per unit, the block deal represents a calculated move by Niyogin Fintech’s stakeholder.
Niyogin Fintech Share Price
The share price of Niyogin Fintech, a Non-Banking Financial Company (NBFC) that is listed as a Smallcap on the BSE, is currently at 73. Today, the stock has fluctuated, reaching a low of ₹71 and a high of ₹76. The shares have fluctuated between a low of ₹45 and a high of ₹97.99 over the last 52 weeks. Niyogin Fintech has demonstrated a return of 19.03% over the last three months, 47.63% over the last month, and 3.55% in a single day.
