Goldman Sachs to sell up to $110 mn stake in Max Financial

Goldman Sachs will sell shares worth up to $110 million in India’s Max Financial Services Ltd on Friday, according to a deal term sheet seen by Reuters.

Two Goldman units are offering to sell a 4.42% stake, or 11.8 million shares, in Max Financial in a block trade, the term sheet showed.

The share sale’s floor price has been set at Rs 595, which is a 0.8% discount to the stock’s Thursday closing price.

Citi is the sole bookrunner.

In April, Goldman sold a 3.7% stake in Max Financial.