UBS Principal Capital Asia Divests 0.54% Stake In Vodafone Idea For Rs 598.9 Crore

UBS Principal Capital Asia offloaded a 0.54% stake in Vodafone Idea Ltd., for Rs 598.9 crore through an open market transaction on Friday. UBS Principal Capital Asia sold 38.2 crore shares in the telecom major at Rs 15.67 apiece, according to bulk deal data on the BSE.

Earlier on Aug. 14, Vodafone Idea responded to speculation that the government may be considering options with sovereign funds to divest its stake in the company. The company clarified that any decisions regarding the government's holding are entirely at the discretion of the Centre. The company also confirmed that it has not received any communication from the government on this matter.

UBS Principal Capital Asia offloaded stakes worth Rs 4,961 crore in Dixon Technologies Ltd., Vodafone Idea, Oracle Financial Services Software Ltd., Oil India Ltd., Rail Vikas Nigam Ltd. and Zydus Lifesciences Ltd. on Friday.

They have also bought shares in Bandhan Bank Ltd. and Prestige Estate Ltd.

Shares of Vodafone Idea Ltd. closed 4.17% lower at Rs 15.63 apiece on the BSE, compared to a 0.28% rise in the benchmark Sensex.