Foreign funds buy IVRCL shares worth Rs 41 cr

Four entities, including foreign funds, today purchased shares worth over Rs 41 crore of infrastructure firm IVRCL through open market transactions.

According to the bulk data available with the stock exchanges, foreign fund house Merrill Lynch Capital Market Espana, a shareholder IVRCL, purchased shares worth Rs 23.2 crore.

It bought 29.08 lakh shares at an average price Rs 47.45 apiece. The deal was worth about Rs 13.79 crore. In another deal, the fund house acquired another 20 lakh shares of IVRCL for an average price of Rs 47.09 apiece, valuing the deal for Rs 9.42 crore.

At the end of June quarter, Merrill Lynch Capital Market Espana held 67.49 lakh shares or 2.53% stake in IVRCL.

Another foreign fund house BNP Paribas Arbitrage purchased 15.88 lakh shares of IVRCL for an average price of Rs 46.4, valuing the deal at Rs 7.36 crore.

Meanwhile, foreign fund house Societe Generale purchased 22.20 lakh scrips of IVRCL Ltd for an average price of Rs 46.2 valuing the deal at Rs 10.25 crore.

Besides, Pashupati Capital Services bought 1.60 lakh shares of the company at Rs 46.62 apiece for deal worth Rs 74.83 lakh.

In other bulk deals, Merrill Lynch Capital Market Espana sold 6 lakh shares of IVRCL Ltd for Rs 45.91 apiece, valuing the deal at Rs 2.75 crore.

Separately, Pashupati Capital Services offloaded 18.69 lakh scrips of the infrastructure firm at Rs 46.7 apiece for a deal worth Rs 8.73 crore.

At the BSE today, shares of IVRCL Ltd climbed 2.53% to close at Rs 46.60 per scrip.