Marshall Wace's Major Share Sale in One97 and Shriram Finance Hits Rs 426 Crore

UK-based hedge fund Marshall Wace sold shares of One97 Communications and Shriram Finance for Rs 426 crore. The transactions were conducted separately on NSE, with shares purchased by BNP Paribas' arm. Goldman Sachs also sold One97 shares worth Rs 183 crore on BSE, leading to a partial exit.

UK-based hedge fund Marshall Wace executed a significant sale of shares for One97 Communications and Shriram Finance, raking in a combined Rs 426 crore on Tuesday. The transactions, conducted through open market deals on the National Stock Exchange (NSE), involved 5.85 lakh shares of One97 Communications and 14.67 lakh scrips of Shriram Finance.

The buyer, BNP Paribas' arm BNP Paribas Financial Markets, acquired the shares at the same selling price, according to NSE data. Additionally, in a separate transaction on the BSE, Goldman Sachs disposed of 44.20 lakh shares of One97 Communications, amounting to a partial exit from the fintech firm.

This series of share sales impacted stock prices, with Shriram Finance shares rising by 3.22 per cent while One97 Communications saw a decline of 1.84 per cent. Details of the buyers in the Goldman Sachs transaction remain undisclosed.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)