SBI Mutual Fund, Morgan Stanley Acquire Stake In IndiaMart InterMesh

SBI Mutual Fund and Morgan Stanley Asia (Singapore) Pte bought stake in IndiaMart InterMesh Ltd. through open market transactions on Friday. On the other hand, foreign investor Westbridge Crossover Fund, LLC sold stake worth Rs 189 crore in the company.

Westbridge Crossover Fund sold 1.19% stake in the company, according to block deal data on the BSE. Marquee investment fund offloaded 7.3 lakh shares at Rs 2,601 apiece.

Westbridge Crossover Fund, as of March 2024, held 2.52% stake in the business-to-business e-commerce company.

SBI Mutual Fund on Friday bought 5.4 lakh shares and Morgan Stanley Asia (Singapore) Pte purchased 1.9 lakh shares at Rs 2,601 per share.

Shares of IndiaMart InterMesh on Friday closed 1.66% higher at Rs 2,658 apiece, as compared with a 0.28% decline in the NSE Nifty 50.