UK's Marshall Wace Offloads Paytm, Shriram Finance Shares For Rs 419 Crore

UK-based hedge fund Marshall Wace offloaded shares of Paytm parent One97 Communications Ltd. and Shriram Finance Co. for a combined value of Rs 419 crore through open market deals on Friday.

Marshall Wace Investment Strategies-Eureka Fund sold 5.85 lakh shares of One97 Communications at an average price of Rs 428.05 apiece, according to bulk deal data on the NSE.

In addition, the fund also disposed of over 14.67 lakh shares of Shriram Finance at an average price of Rs 2,684.30 per piece.

On the other hand, Paris-based investment bank BNP Paribas acquired an equal number of One97 Communications and Shriram Finance shares at the same price. The purchase was made through affiliate BNP Paribas Financial Markets.

Shares of Shriram Finance closed 1.76% higher at Rs 2,732 apiece, while the scrip of One97 Communications tanked 0.84% to settle at Rs 424.9 apiece, as compared with a 0.24% advance in the benchmark BSE Sensex.

(With inputs from PTI)