Morgan Stanley sells most of its shares in Shriram City Union Finance

East Bridge Capital Master Fund increases its stake in the company by acquiring almost the same number of shares

Morgan Stanley Asia (Singapore) has sold a majority of its shares in Shriram City Union Finance (SCUF) for an aggregate amount of Rs 2.53 billion, while East Bridge Capital Master Fund has increased its stake in the company by acquiring almost the same number of shares for around Rs 2.55 billion.    

According to bulk deal data from the National Stock Exchange, Morgan Stanley has sold 1.3 million shares at Rs 1922.25 per share, from its total 1.4 million equity shares in the company, which accounts to around 2.25 per cent of the shares. East Bridge Capital, which has around 2.5 million shares in the company (3.88 per cent), has acquired 1.33 million shares for Rs 1922.25 per share.