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UBS Principal Capital Asia sells Axis Bank shares worth over Rs 150 cr

UBS Principal Capital Asia Ltd on Monday offloaded shares of Axis Bank worth over Rs 150 crore through open market transactions.

Axis Bank | Axis Bank shares

Press Trust of India  |  New Delhi 

Typically, promoters pledged their shares to generate liquidity

UBS Principal Capital Asia Ltd on Monday offloaded shares of worth over Rs 150 crore through open market transactions.

A total of 35 lakh scrips of the private sector lender were sold at an average price of Rs 429.5 apiece, valuing the deal at Rs 150.32 crore, according to block deal data on the BSE.

Through separate transactions, the shares of were picked up by BofA Securities Europe SA at the same price.

Shares of on Monday ended 0.52 per cent lower at Rs 430.95 apiece on the BSE.

On Friday, UBS Principal Capital Asia had sold shares of Axis Bank worth Rs 150 crore, and the scrips were picked up by BofA Securities Europe SA.

In another transaction, BNP Paribas Arbitrage bought TVS Motor Company Ltd's shares worth nearly Rs 148 crore.

The entity purchased over 35.47 lakh scrips of the lender at Rs 417.05 per scrip, valuing the deal at Rs 147.95 crore.

The scrips were sold by Goldman Sachs (Singapore) Pte Ltd-ODI at the same price through a separate transaction, the block deal data showed.

Shares of TVS Motor Company on Monday closed 0.64 per cent lower at Rs 418.55 apiece on the BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, August 10 2020. 21:35 IST