Theleme Master Fund Ltd, a UK- based hedge fund, on Wednesday offloaded Bank of Baroda shares worth Rs1,115 crore through an open market transaction.
The hedge fund sold its entire holding of 3.29% or 75,817,327 shares of the bank, according to bulk deal data available with BSE.
The shares were offloaded at an average price of Rs147.06, valuing the transaction at Rs1,114.97 crore, data showed.
Merrill Lynch Markets Singapore Pte Ltd picked up 75,473,856 scrips at Rs147.08 apiece. This takes the transaction size to Rs1,110.07 crore.
Following the development, shares of Bank of Baroda gained 2.84% to close at Rs148.40 on BSE. During the intra-day trade, the stock touched a high of Rs150.70.
Source: Mint