Mumbai: Morgan Stanley Asia on Thursday sold five million shares of Tata Motors with differential voting rights (DVR) for Rs. 80.50 crore through open market transactions.
According to bulk data available with the stock exchanges, Morgan Stanley Asia (Singapore) PTE sold 2.5 million shares of Tata Motors DVR on the Bombay Stock Exchange (BSE) and the same quantum on the National Stock Exchange as well.
These shares were sold on an average price of Rs.161.01 valuing the deal at Rs.80.50 crore, data showed. Morgan Stanley Asia (Singapore) PTE held 51,84,000 shares or 1.08% stake in Tata Motors DVR at the end of September quarter. Tata Motors DVR rose by 0.88% to settle at Rs.161.05 apiece on the BSE. A DVR share is like an ordinary equity share, but it provides fewer voting rights to the shareholder.