Big-ticket shuffle: SBI MF and Goldman Sachs pick up 1.8% in Bajaj Finserv; ZF promoter pares Rs 792 crore stake
In a major secondary market transaction, marquee investors including SBI Mutual Fund, Goldman Sachs, and Morgan Stanley acquired a combined 1.8% stake in Bajaj Finserv on Friday for Rs 5,506 crore through a series of bulk transactions on the National Stock Exchange, according to exchange data.
A total of 2.86 crore shares changed hands at an average price of Rs 1,925.20 per share. The buyers also included JP Morgan India, Citigroup Global, Societe Generale, SBI Life Insurance, BofA Securities, and Barclays Merchant Bank (Singapore), PTI reported.
The shares were sold by promoter entities Bajaj Holdings and Investment Ltd and Jamnalal Sons, whose collective holding in Bajaj Finserv declined to 58.84% from 60.64% after the transaction.
Following the deal, Bajaj Finserv shares rose 2.30% to close at Rs 1,988.70 on the NSE.
In a separate transaction, Wabco Asia Pvt Ltd — the promoter of ZF Commercial Vehicle Control Systems India — divested a 3.16% stake in the company for Rs 791.63 crore through the open market.
Wabco sold over 6 lakh shares at an average price of Rs 13,191 apiece. Its holding in the company declined from 63.16% to 60%.
Among the buyers were Franklin Templeton Mutual Fund, Aditya Birla Sun Life Mutual Fund, HDFC Standard Life Insurance, Goldman Sachs (Singapore), Societe Generale, and Citigroup Global Markets Mauritius.
Shares of ZF Commercial Vehicle Control Systems India closed 4.46% higher at Rs 13,917 on the NSE.
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