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Business News/ Market / Stock-market-news/  Morgan Stanley sells United Spirits shares worth `566 crore
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Morgan Stanley sells United Spirits shares worth `566 crore

Shares were purchased by Bank of Nova Scotia Asia at an average price of `2,312.5 apiece

As on 31 May 2013, Morgan Stanley Asia held 58.46 lakh shares of United Spirits representing 4.02% stake in the company. Photo: Mint (Mint)Premium
As on 31 May 2013, Morgan Stanley Asia held 58.46 lakh shares of United Spirits representing 4.02% stake in the company. Photo: Mint
(Mint)

Mumbai: Global financial services firm Morgan Stanley Asia (Singapore) Pte, a shareholder of United Spirits Ltd., on Friday sold 24.50 lakh shares of the Vijay Mallya-led company for over Rs566 crore in open market transactions.

The shares were purchased by Bank of Nova Scotia Asia at an average price of Rs2,312.5 apiece, as per the bulk deal information with stock exchanges. The aggregate value of the transaction amounted to Rs566.56 crore.

As on 31 May 2013, Morgan Stanley Asia held 58.46 lakh shares of United Spirits representing 4.02% stake in the company.

In a separate deal, JSW Steel Ltd., a promoter entity of JSW Energy Ltd., offloaded 27.27 lakh shares of the Sajjan Jindal-led company for Rs13.15 crore. The shares were acquired by JSW Steel Coated Products and Amba River Coke at an average price of Rs48.25 apiece.

JSW Steel held nearly 7.80 crore shares (amounting to 4.75% stake) of JSW Energy, as on 24 May 2013.

At the BSE, shares of United Spirits rose 1.70% to close at Rs2,371.95 apiece, while shares of JSW Energy jumped 7.95% to settle at Rs50.90 apiece.

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Published: 14 Jun 2013, 08:54 PM IST
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