Morgan Stanley buys United Spirits' shares worth Rs 229 cr

MUMBAI: Foreign fund house, Morgan Stanley Asia, today purchased 10.80 lakh shares of Vijay Mallya-led United Spirits Ltd for an estimated Rs 229 crore.

According to information available with the stock exchanges, Morgan Stanley Asia (Singapore) Pte bought 10,80,142 shares, amounting to 0.74 per cent stake, of United Spirits through an open market transaction.

The shares were purchased on an average price of Rs 2,118.23 valuing the transaction to Rs 228.79 crore, data showed.

However, the seller of the shares could not be ascertained.

Earlier this month, Morgan Stanley Asia had sold 24.50 lakh shares of United Spirits for over Rs 566 crore to by Bank of Nova Scotia Asia.

As of May 31, Morgan Stanley Asia held 58.46 lakh shares, which is equivalent to 4.02 per cent stake in United Spirits.

Shares of United Spirits today declined by 2.46 per cent to settle at Rs 2,171 apiece on the BSE.