Major Stake Transactions in Bajaj Finserv and ZF Commercial Vehicles
SBI MF, Morgan Stanley, and Goldman Sachs acquired a combined 1.8% stake in Bajaj Finserv for Rs 5,506 crore, lowering promoter holdings. In a related transaction, Wabco Asia sold its 3.16% stake in ZF Commercial Vehicle Control Systems India for Rs 792 crore, reducing its stake to 60%.
- Country:
- India
In a significant move within the stock market, SBI MF, Morgan Stanley, and Goldman Sachs led the acquisition of a cumulative 1.8% stake in financial services giant Bajaj Finserv. The deal was valued at Rs 5,506 crore, coming from promoter entities, as confirmed by NSE block deal data.
The impactful transaction saw other financial heavyweights such as JP Morgan India, Citigroup Global, and Barclays Merchant Bank participating aggressively. The shares, bought at an average price of Rs 1,925.20, led to the promoters' stake in Bajaj Finserv dropping from 60.64% to 58.84%.
A separate prominent deal involved Wabco Asia divesting a 3.16% stake in ZF Commercial Vehicle Control Systems India for Rs 792 crore. The divestiture saw major investors like Franklin Templeton MF and Goldman Sachs (Singapore) take up shares, slightly shifting market dynamics as ZF's shares climbed to Rs 13,917 on the NSE.
(With inputs from agencies.)
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