Foreign fund house Morgan Stanley has raised its stake in Jindal Saw to over five per cent by acquiring additional 2.44 per cent stake through open market on December 31.
Morgan Stanley had 81.67 lakh shares or 2.95 per cent stake in Jindal Saw before the transaction, the pipe maker said in a regulatory filing.
The fund house has bought additional 67.42 lakh shares or 2.44 per cent stake in the firm through “market purchase” taking its total shareholding to 5.39 per cent on the last day of the calendar year 2012.
According to bulk deal data available with the stock exchanges, Morgan Stanley purchased the shares at an average price of Rs 125.65 aggregating Rs 84.72 crore.
The shares were bought by Morgan Stanley Aisa (Singapore) Pte, Morgan Stanley Mauritius Company and Morgan Stanley India Capital.
Promoters had 46 per cent stake in Jindal Saw as on September-end.