Latest News | Motilal Oswal MF Buys Jio Financial Services'' Shares for Rs 754 Cr

New Delhi, Aug 25 (PTI) 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.

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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.

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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 Enterprises India Ltd is a solution provider for HVAC (Heating, Ventilation and Cooling) industry.

Ascent Investment Holdings Pte offloaded more than 12.60 lakh shares, amounting to a 3.7 per cent stake in Amber Enterprises, as per the block deal data available with the NSE.

The shares were disposed of at an average price of Rs 2,800 apiece, taking the aggregate transaction size to Rs 352.95 crore.

Post the transaction, Ascent's shareholding has declined to 6.02 per cent from 9.76 per cent stake in Amber at the end of the June quarter, as per the shareholding data showed with the bourse.

Singapore government, Manulife Global Fund India Equity Fund, Monetary Authority of Singapore and Nordea 1 Sicav, among others, were the buyers of the shares of Amber Enterprises.

Shares of Amber Enterprises India fell 0.49 per cent to settle at Rs 2,787 per piece on the NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)