Separately, Goldman Sachs Singapore Pte bought 38.9 lakh shares at a price of Rs 1,161 per share. After completing both the transactions, shareholding of US-headquartered investment banking firm in M&M will drop to 0.63% from 1.91%.
The M&M scrip lost 3.18% or Rs 38.75 to end at Rs 1181.35 apiece. Excluding the bulk deals, trading volume was up 4.35 times its 30-day average volume. More than 43.68 lakh shares were traded in open market compared with 10.03 lakh shares traded at an average in the previous 30 sessions. The counter also witnessed selling pressure by the stock going ex-dividend on Thursday.
Goldman Sachs was the sole manager to the deal. The investment bank had set a price band of Rs 1,135-1,208 per share for the share sale.