Vontobel Fund sells Shriram City Union shares for Rs 127 cr

US-based Vontobel Fund Inc today offloaded more than 10 lakh shares of Shriram City Union Finance (SCUF) for a little over Rs 127 crore through an open market route.
According to information available with the stock exchanges, Vontobel Fund sold 5.97 lakh shares and 4.10 lakh shares of the non-banking finance company on the NSE and BSE respectively.
The shares were offloaded on an average price of Rs 1,265 valuing the transaction at Rs 127.41 crore.
The buyers of the shares could not be ascertained immediately.
Vontobel Fund is run by Vontobel Asset Management Inc.
Yesterday, Norwest Venture Partners offloaded 2.78 per cent stake in the SCUF for an estimated Rs 206.25 crore.

Recently, Piramal Enterprises had proposed to acquire 9.99 per cent stake in SCUF for about Rs 790 crore.
Shares of Shriram City Union Finance today rose by 1.94 per cent to close at Rs 1,264.20 apiece on the BSE.