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Hedge fund Tree Line Asia Master Fund (Singapore) today bought 4.6 lakh shares of multiplex operator PVR Ltd for an estimated Rs 27 crore through the open market.
Tree Line Asia Master Fund (Singapore) bought 2.56 lakh PVR shares on the NSE and 2.04 lakh scrips of the company on the BSE, according to information with the stock exchanges.
The shares were purchased at an average price of Rs 586.25 each, valuing the combined transactions at Rs 26.97 crore.
PVR promoter Ajay Bijli and an entity identified as HNI372 sold 2 lakh shares each of the company at Rs 585 apiece, valuing the transactions at Rs 23.4 crore, according to the exchanges.
At the end of September quarter, Bijli held 22.64 lakh PVR shares, amounting to a 5.7% stake.
PVR shares rose 3.73% to settle at Rs 597.10 on the BSE.
