Business Standard

Marshall Wace sells shares of One97 Comm, Shriram Finance for Rs 419 crore

Paris-based financial services firm BNP Paribas, through its affiliate BNP Paribas Financial Markets purchased shares of One97 Communication and Shriram Finance at same price, as per the NSE data

Paytm

Marshall Wace Investment Strategies - Eureka Fund also disposed of over 14.67 lakh shares of Shriram Finance at an average price of Rs 2,684.30 per piece. (Photo: Reuters)

Press Trust of India New Delhi

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UK-based hedge fund Marshall Wace on Friday sold shares of One97 Communications and Shriram Finance for a combined value of Rs 419 crore through open market transactions.
Marshall Wace, through its arm Marshall Wace Investment Strategies - Eureka Fund, offloaded shares of One97 Communications, owner of Paytm brand, and Shriram Finance Ltd through separate block deals on the National Stock Exchange (NSE).
As per the data on the NSE, Marshall Wace Investment Strategies - Eureka Fund sold

5.85 lakh shares of One97 Communications at an average price of Rs 428.05 apiece.
In addition, Marshall Wace Investment Strategies - Eureka Fund also disposed of over 14.67 lakh shares of Shriram Finance at an average price of Rs 2,684.30 per piece.
This took the combined transaction value to Rs 419.09 crore.
Meanwhile, Paris-based financial services firm BNP Paribas, through its affiliate BNP Paribas Financial Markets purchased shares of One97 Communication and Shriram Finance Ltd at the same price, as per the NSE data.
Shares of Shriram Finance rose 1.75 per cent to close at Rs 2,731.25 apiece, while scrip of One97 Communications slipped 1.04 per cent to settle at Rs 423.60 per piece on the NSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 14 2024 | 11:10 PM IST

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