Weekend bulk deals for Jhunjhunwala, Morgan Stanley

Unload stakes in Crisil, United Spirits respectively

Jhunjhunwala has unloaded 4 lakh shares in rating agency Crisil on 14th June on the National Stock Exchange, according to exchange data. The shares were sold at Rs.1,158.6 and were worth Rs.46.34 crore.  Rakesh Jhunjhunwala and his wife Rekha held 54 lakh shares equivalent to 7.69% stake in the company, according to data at the end of the March quarter. The stock was down 0.8% to close at Rs.1,151.5 on the National Stock Exchange on Friday.

McGraw-Hill Financial Holdings (Singapore) P. Ltd had announced plans to acquire stake in the company at a near 30% premium earlier this month. It had announced that it planned to acquire 1.56 crore shares or 22.23% stake in the company through a voluntary open offer.

Meanwhile, Morgan Stanley Asia(Singapore) sold  24.5 lakh shares in United Spirits to The Bank of Nova Scotia Asia, according to exchange data. The shares were worth Rs.566.56 crore and changed hands at a price of Rs.2,312.5. The stock was up 1.7% to close at Rs.2,371.95 on the BSE.

Global spirits company Diageo was allotted a 10% stake in Vijay Mallya’s United Spirits at the end of May as part of an agreement between the two last November.