UK-Based Hedge Fund Marshall Wace Sells Shares Of Paytm, Shriram Finance For Rs 426 Crore

New Delhi: UK-based hedge fund Marshall Wace on Tuesday sold shares of One97 Communications and Shriram Finance for a combined value of Rs 426 crore through open market transactions.

Marshall Wace, through its arm Marshall Wace Investment Strategies - Eureka Fund, offloaded shares of One97 Communications, owner of Paytm brand, and Shriram Finance Ltd through separate block deals on the National Stock Exchange (NSE).

As per the data on the NSE, Marshall Wace Investment Strategies - Eureka Fund sold 5.85 lakh shares of One97 Communications at an average price of Rs 425.05 apiece.

Additionally, it offloaded 14.67 lakh scrips of Shriram Finance at an average price of Rs 2,732.15 per piece.

Accordingly, the combined deal value to Rs 425.93 crore.

These shares of One97 Communications and Shriram Finance were purchased by BNP Paribas' arm BNP Paribas Financial Markets at the same price.

Shares of Shriram Finance rose 3.22 per cent to close at Rs 2,820 apiece, while the scrip of One97 Communications slipped 1.86 per cent to settle at Rs 417.15 per piece on the NSE on Tuesday.

In another transaction on the BSE, Goldman Sachs sold shares of Paytm's parent company One97 Communications for Rs 183 crore through an open market transaction.

US-based Goldman Sachs through its affiliate Goldman Sachs (Singapore) Pte - ODI disposed of 44.20 lakh shares, amounting to a 0.7 per cent stake in One 97 Communications.

The shares were offloaded at an average price of Rs 415.04 apiece, taking the deal value to Rs 183.45 crore.

After the share sale, Goldman Sachs took a partial exit from the fintech firm.

Details of the buyers could not be ascertained.

On Tuesday, shares of One97 Communications slipped 1.84 per cent to end at Rs 417.10 per scrip on the BSE.