Motilal Oswal Mutual Fund on Friday acquired 3.72 crore shares of Jio Financial Services, the demerged non-banking financial services unit of the Mukesh Ambani-led Reliance group, for Rs 754 crore through an open market transaction.
According to the bulk deal data available with the NSE, Motilal Oswal Mutual Fund bought 3,72,00,000 shares, amounting to a 0.6 per cent stake in Jio Financial Services.
The shares were purchased at an average price of Rs 202.80 apiece, taking the transaction value to Rs 754.41 crore.
Shares of Jio Financial Services jumped 3.82 per cent to close at Rs 221.60 apiece on the NSE.
Jio Financial Services Ltd (JFSL) listed on the stock exchanges on August 21.
On Friday, the market capitalisation of the financial services company stood close to Rs 1.35 lakh crore on the BSE.
In a separate transaction on NSE, Ascent Investment Holdings Pte divested a 3.7 per cent stake in Amber Enterprises India for Rs 353 crore through an open market transaction.
Amber …
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