Singapore-based hedge fund Tree Line Asia Master Fund sells VA Tech Wabag shares worth Rs 20 crore

MUMBAI: Hedge fund Tree Line Asia Master Fund (Singapore) today sold over four lakh shares worth Rs 20 crore in water management company VA Tech Wabag through open market transactions.

According to data available through stock exchanges, Tree Line Asia Master Fund (Singapore) offloaded 4,14,800 shares of VA Tech Wabag.

The shares were sold at an average price of Rs 480.01 through bulk deal translating into a deal of Rs 19.91 crore.

Meanwhile, Fortis Fund acquired two lakh shares of the company for Rs 480 apiece valuing the transaction at Rs 9.6 crore.

As of June quarter, Tree Line Asia Master Fund (Singapore) Pte Ltd held 6.27 lakh shares, or 2.37 per cent, stake in the water management firm, while Fortis Fund held 3.38 lakh shares, or 1.28 per cent stake in VA Tech Wabag during the same period.

In a separate deal, Copthall Mauritius Investment purchased 27.25 lakh shares of S Kumars Nationwide Ltd for Rs 5.86 crore.