Morgan Stanley hikes stake in Unitech to 5.53 pc via QIP
Foreign fund house Morgan Stanley Mauritius has hiked its stake in real estate player Unitech to 5.53 per cent through purchase of shares worth Rs 795.33 crore by way of private placement route.
By PTI |
MUMBAI: Foreign fund house Morgan Stanley Mauritius has hiked its stake in real estate player Unitech to 5.53 per cent through purchase of shares worth Rs 795.33 crore by way of private placement route.
Morgan Stanley along with its various subsidiaries has acquired 9.81 crore shares, representing 4.11 per cent stake in Unitech, worth Rs 795.33 crore by private placement of shares with qualified institutional buyers, Unitech said in a disclosure on the Bombay Stock Exchange.
Prior to the acquisition the company held 1.66 per cent stake, while now it holds 5.53 per cent stake or 13.21 crore shares of Unitech.
Shares of Unitech today closed at Rs 68.05 on the BSE, down 10.81 per cent from previous close.
Morgan Stanley along with its various subsidiaries has acquired 9.81 crore shares, representing 4.11 per cent stake in Unitech, worth Rs 795.33 crore by private placement of shares with qualified institutional buyers, Unitech said in a disclosure on the Bombay Stock Exchange.
Prior to the acquisition the company held 1.66 per cent stake, while now it holds 5.53 per cent stake or 13.21 crore shares of Unitech.
Shares of Unitech today closed at Rs 68.05 on the BSE, down 10.81 per cent from previous close.
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