According to NSE block deal data, JP Morgan, through its affiliate JP Morgan (Taiwan) Eastern Technology Fund, and Aditya Birla Sun Life Mutual Fund purchased 33,33,500 shares, representing nearly a 0.4% stake in the Bengaluru-based insurer.The transaction marks a partial exit by Peak XV Partners, one of the early investors in Go Digit, while bringing in prominent institutional investors to the insurer’s shareholder base.
Mumbai:Global investment firm JPMorgan Chase & Co. and Aditya Birla Sun Life Mutual Fund have collectively acquired more than 33.3 lakh shares of Go Digit General Insurance from existing investor Peak XV Partners for approximately Rs100 crore through open-market transactions.
According to NSE block deal data, JP Morgan, through its affiliate JP Morgan (Taiwan) Eastern Technology Fund, and Aditya Birla Sun Life Mutual Fund purchased 33,33,500 shares, representing nearly a 0.4% stake in the Bengaluru-based insurer.
Investor interest in the stock was reflected in market performance, with Go Digit General Insurance shares rising 5% on Friday to Rs318 apiece on the National Stock Exchange of India.
The transaction marks a partial exit by Peak XV Partners, one of the early investors in Go Digit, while bringing in prominent institutional investors to the insurer’s shareholder base.