BofA Securities Europe SA recently acquired shares worth approximately Rs.300 crore in three Indian companies, significantly boosting their financial performance and enhancing investor confidence.
BofA Securities offers a range of financial services, including fixed income, currency, and commodities trading, as well as investment banking advisory, underwriting, and post-trade services.
The three Indian companies in which bofA Securities Europe SA invested are:
Shriram Finance Limited
Shriram Finance Ltd. specializes in financing commercial vehicles, passenger vehicles, construction equipment, farm equipment, micro, small and medium enterprises, two-wheelers, gold, and personal loans.
On August 16, 2024, BofA Securities Europe SA bought 592,746 shares of Shriram Finance Ltd. at Rs.2,895.10 per share, with the total transaction amounting to Rs.171.6 crore. These shares were previously sold by Marshall Wace Investment Strategies – Eureka Fund at the same price.
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Schaeffler India Limited
Schaeffler India Ltd. is a key provider of components and systems for engine, transmission, and chassis applications in hybrid, electric, and combustion-engine-powered vehicles.
On August 16, 2024, BofA Securities Europe SA acquired 2,33,007 shares in Schaeffler India Ltd. at Rs.3,955.60 per share, amounting to a total transaction value of Rs.92.16 crore. This transaction mirrored the sale of the same quantity of shares by Marshall Wace Investment Strategies – Eureka Fund at the same price.
Linde India Limited
Linde India Limited, an industrial gas company operating through its Gases and Related Products and Project Engineering Division (PED) segments, also attracted investment from BofA Securities Europe SA.
On August 16, 2024, BofA Securities purchased 49,806 shares in Linde India Ltd. at Rs. 7,163.65 per share, which matched the sale by Marshall Wace Investment Strategies – Eureka Fund at the same price. The transaction was valued at Rs.35.68 crore.
Advantage to companies
BofA Securities Europe’s investment of around Rs.300 crore in Shriram Finance, Schaeffler India, and Linde India will provide these companies with increased capital for growth and enhanced financial stability.
This involvement boosts investor confidence and improves market perception, potentially leading to higher stock prices.
Written by – Siddesh S Raskar
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