New Delhi, Apr 1 (PTI) Hedge fund WF Asian Reconnaissance Fund Ltd on Friday offloaded 6.98 lakh shares of IIFL Wealth for nearly Rs 120 crore through an open market transaction.

According to bulk deal data available with the National Stock Exchange (NSE), WF Asian Reconnaissance Fund Ltd sold a total of 6,98,922 shares at an average price of Rs 1714.05 apiece.

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This took the total deal value to Rs 119.79 crore. However, buyers of the shares could not be ascertained immediately.

WF Asian Fund, a public shareholder of the company, held 4.51 per cent stake in the firm at the end of December 2021.

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The IIFL Wealth scrip closed 2.16 per cent higher at Rs 1,705 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)