Morgan Stanley sells Bajaj Finserv shares worth Rs 314 cr

PTI Posted online: Monday, Dec 23, 2013 at 0000 hrs
Mumbai : Foreign investor Morgan Stanley today offloaded more than 43 lakh shares of financial services company, Bajaj Finserv, for an estimated Rs 314 crore in the open market.

The scrips were purchased by Valiant Mauritius Partners.

According to block deal data available with the National Stock Exchange, Morgan Stanley Asia (Singapore) Pte sold 35,82,795 shares of Bajaj Finserv, while Morgan Stanley Mauritius Company offloaded 7,72,078 scrips of the company.

The shares were sold at an average price of Rs 722, valuing the transactions at a combined Rs 314.42 crore.

Bajaj Finserv Limited (BFS), a holding company, represents Bajaj Group in the financial services space through its subsidiaries.

Bajaj Finserv participates in the insurance business through - 74 per cent holding in Bajaj Allianz Life Insurance Company Ltd. and Bajaj Allianz General Insurance Company Ltd. and in the lending business through - 61.99 per cent holding in Bajaj Finance Ltd.

At the end of September quarter, Morgan Stanley Asia (Singapore) held 37,57,907, amounting to 2.36 per cent, shares of Bajaj Finserv.

Bajaj Finserv shares today closed at Rs 718.85 apiece on the BSE, down 0.22 per cent from the previous close.