Motilal Oswal made a big bet on Jio Financial Services, invested so many hundred crores in the company.

Motilal Oswal Mutual Fund has placed a big bet on Jio Financial Services. The company has bought 3.72 crore shares of Jio Financial Services, the non-banking financial services (NBFC) arm of Mukesh Ambani’s Reliance Group, for Rs 754 crore through an open market transaction. As per data available with NSE, Motilal Oswal Mutual Fund bought 3,72,00,000 shares, which is equivalent to 0.6 per cent stake in Jio Financial Services. The shares were bought at an average price of Rs 202.80, taking the transaction value to Rs 754.41 crore.

Was listed on the stock market on 21 August

Jio Financial Services Limited (JFSL) got listed on the stock market on 21 August. The market capitalization of the financial services company stood close to Rs 1.35 lakh crore on the BSE on Friday. Shares of Jio Financial Services closed at Rs 221.60, up 3.82 per cent, on the NSE. Reliance Group’s financial services company Jio Financial Services Ltd (JFSL) hit the lower circuit on Friday for the fifth consecutive day after its listing on selling pressure. However, after the market opened, the lower circuit was broken and the stock saw a tremendous rally.

Sells 3.7% stake in Amber Enterprises India

In a separate transaction on the NSE, Ascent Investment Holdings Pte sold 3.7 per cent stake in Amber Enterprises India for Rs 353 crore through an open market transaction. Amber Enterprises India Limited is a solution provider for the HVAC (Heating, Air Conditioning and Cooling Equipment) industry. Ascent Investment Holdings Pte sold over 12.60 lakh shares under its 3.7 per cent stake in Amber Enterprises, according to the wholesale deal data available with NSE. The shares were settled at an average price of Rs 2,800 per share, taking the total transaction size to Rs 352.95 crore.