Financial services giant Citigroup made headlines on Wednesday by selling shares of telecom company Vodafone Idea for over Rs 233 crore in an open market transaction.
Citigroup, based in the US, conducted the sale through its affiliate, Citigroup Global Markets Mauritius, in a block deal on the BSE.
Read More: Piotex Industries IPO: 10 Things to Know Before Subscribing to Issue
The transaction saw Citigroup Global Markets Mauritius Pvt Ltd offloading a substantial 19,04,25,000 shares of Vodafone Idea, according to data from the BSE. The shares were sold at an average price of Rs 12.27 each, resulting in a total transaction value of Rs 233.65 crore. Simultaneously, Ghisallo Master Fund LP acquired shares of Vodafone Idea at the same price.
Read More: Stocks To Watch: Wipro, SBI, BPCL, TVS Motor, RVNL, Asian Paints, NTPC, BoB, and Others
On Wednesday, the shares of Vodafone Idea closed at Rs 12.75, 2.82 per cent up from the previous day’s closing. The 52 week high and low of the share is Rs 18.40 and Rs 6.55 respectively.
According to the BSE analytics, the shares have given massive returns of 83.67 per cent in the last 1 year and 53.50 per cent returns in the last 3 years.
Recently, Vodafone Idea had announced its much-anticipated follow-on public offer (FPO), amounting to a substantial Rs 18,000 crore. The FPO was initiated on Thursday, April 18, 2024, and remained open for subscription over a three-day period.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
