Bulk Deals | Motilal Oswal MF picks shares worth Rs 754.4 crore in Jio Financial

Societe Generale, Morgan Stanley buy 1.57% stake in Paytm

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Motilal Oswal Mutual Fund has bought shares worth more than Rs 750 crore in Jio Financial Services, the demerged non-banking financial services arm of the billionaire Mukesh Ambani-owned Reliance group, via open market transactions, on August 25.

As per bulk deals data available on exchanges, Motilal Oswal Mutual Fund has purchased 3.72 crore shares, which is equivalent to 0.58 percent of paid-up equity in Jio Financial, at an average price of Rs 202.8 per share. This stake buy was worth Rs 754.4 crore.

Jio Financial shares settled at Rs 214.50 on August 25, up 0.49 percent.

Also read: Jio Financial’s exclusion from BSE indices postponed by another 3 days to Sept 1

One 97 Communications was also in focus, down 0.6 percent to Rs 899.20 after a stake sale by Antfin via block deals. Foreign investor Antfin (Netherlands) Holding B V, owned by Chinese billionaire Jack Ma’s Ant Group, has sold 2.27 crore equity shares or 3.59 percent stake in the Paytm operator.

Antfin sold shares at an average price of Rs 895.20 per share, which were worth Rs 2,037.01 crore. Antfin (Netherlands) Holding held 23.79 percent stake in Paytm as of June 2023.

However, Societe Generale has bought 59.87 lakh shares and Morgan Stanley Asia Singapore Pte purchased 39.96 lakh shares in Paytm at an average price of Rs 895.20 per share.

UNO Minda was down 2 percent to Rs 592.85 amid huge volumes, continuing the downtrend for the third consecutive session. Promoter Nirmal Kumar Minda has sold 74.46 lakh equity shares or 1.3 percent stake in the auto ancillary company, at an average price of Rs 602.02 per share. The stake sale was worth Rs 448.27 crore.

Nirmal’s personal shareholding was 22.54 percent in the company and the entire promoters’ shareholding stood at 70.05 percent as of June 2023.

Also read: Block deal bonanza – Eight deals take place in just two days

Amber Enterprises India remained in focus for yet another session, falling over half a percent to Rs 2,785.95 amid high volumes. The Government of Singapore has bought further 7.25 lakh shares or 2.15 percent stake in Amber Enterprises, the solution provider for HVAC (heating, ventilation, and air conditioning) industry in India, at an average price of Rs 2,800 per share. The stake buy was worth Rs 203.06 crore.

However, Ascent Investment Holdings Pte Limited has offloaded 12.6 lakh shares or 3.74 percent stake in Amber at the same price, amounting to Rs 352.95 crore.

Ascent held 9.76 percent stake or 32.88 lakh shares in Amber as of June 2023, while in the previous session, the Government of Singapore picked a 1.2 percent stake or 4.05 lakh shares in Amber.

GI Engineering Solutions remained in action throughout this week, as investor GG Engineering has continued selling stake in GI Engineering in all sessions of the current week. GG Engineering sold 12.93 lakh shares or 1.5 percent stake at an average price of Rs 11.95 per share.

In the last five days, GG Engineering sold total of 1.36 crore shares or 15.88 percent stake in GI Engineering, against the shareholding of 2.1 crore shares or 24.47 percent stake as of June 2023.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.