Foreign fund house Morgan Stanley Mauritius today raised its stake in financial services provider JM Financial to 4.80 per cent after acquiring additional shares worth Rs 68.24 crore through open market transactions. Morgan Stanley Mauritius has acquired an additional 18.4 million shares, or 2.45 per cent, stake in JM Financial at Rs 37.06 per share, totalling Rs 68.24 crore, according to details available on the Bombay Stock Exchange (BSE).
According to the BSE data on the shareholding pattern of JM Financial for the March quarter, Morgan Stanley Mauritius held a 2.35 per cent stake in the company.