Theleme Master Fund buys JSW Steel shares worth over Rs 437 crore

Theleme Master Fund, a UK-based hedge fund, on Thursday picked up more than 2.84 crore shares of JSW Steel for over Rs 437 crore through open market transactions. Morgan Stanley France S.A was among the seller of shares.

According to the bulk data available on the BSE, Theleme Master Fund bought 2,84,69,460 shares of JSW Steel at an average price of Rs 153.80, valuing the transaction at Rs 437.86 crore. Morgan Stanley sold 2,19,03,912 shares of the company for Rs 153.80 apiece, taking the transaction size to Rs 336.88 crore.

At the end of December quarter of 2019, Theleme Master Fund and Morgan Stanley France S.A. held 1.24 per cent and 1.01 per cent stake, respectively, in JSW Steel. Shares of JSW Steel on Thursday settled 0.80 per cent lower at Rs 149.70 on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)