SBI MF, Morgan Stanley, Goldman Sachs, and others buy 1.8% stake in Bajaj Finserv for Rs 5,506 Cr

State Bank of India Mutual Fund (SBI MF), Morgan Stanley and Goldman Sachs, among others, cumulatively bought a 1.8% stake in Bajaj Finserv for Rs 5,506 crore from promoter entities, on Friday.

JP Morgan India, Citigroup Global, Societe Generale, SBI Life, BofA Securities, and Barclays Merchant Bank (Singapore) were also among the buyers, as per block deal data on the National Stock Exchange (NSE). The entities bought 2.86 crore shares at an average price of Rs 1,925.20 apiece, as per the data.

Meanwhile, Bajaj Finserv's promoters entities Bajaj Holdings and Investment and Jamnalal Sons offloaded an equal number of shares at the same price. After the stake sale, the promoters' holding of Bajaj Finserv dipped to 58.84% from 60.64 % earlier.

Shares of Bajaj Finserv rose 2.30%, to close at Rs 1,988.70 apiece on the NSE.

In a separate block deal on the NSE, Wabco Asia Pvt Ltd, promoter of ZF Commercial Vehicle Control Systems India, divested a 3.16% stake for Rs 792 crore through an open market transaction. Following the stake sale, Wabco Asia's holding in ZF Commercial Vehicle Control Systems India declined to 60% from 63.16%.

As per the data, Wabco Asia sold a little over 6 lakh shares, representing a 3.16% stake in the company.

The shares were disposed of at an average price of Rs 13,191 per piece, taking the deal value to Rs 791.63 crore.

Franklin Templeton MF, Aditya Birla Sunlife MF, HDFC Standard Life Insurance, Goldman Sachs (Singapore), Societe Generale, and Citigroup Global Markets Mauritius, among others, were the entities who picked shares of ZF Commercial Vehicle Control Systems India. The scrip of ZF Commercial Vehicle Control Systems India jumped 4.46% to settle at Rs 13,917 per piece on the NSE.