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Fund manager Fidelity on Wednesday offloaded more than 78 lakh shares worth over Rs 185 crore of Tata Communications Ltd through open market transactions.

As per the bulk deal data on NSE, a total of 78.94 lakh shares were sold by Fidelity Investment Trust. Shares were sold at an average price of Rs 235.01 apiece, taking the total deal value to Rs 185.52 crore.

Through separate transactions, East Bridge Capital Master Fund I Ltd and University of Notre Dame DU LAC picked up 44 lakh and over 15 lakh shares in Tata Communications respectively.

Shares were purchased at a price of Rs 235 per share, with total deal value standing at Rs 138.69 crore.

According to Tata Communications’s shareholding data for December 2019, Fidelity Investment Trust Fidelity Series Emerging Markets Fund and East Bridge Capital Master Fund I are public shareholders and held 2.34 per cent and 5.69 per cent stake in Tata Communications respectively.

On NSE, shares of Tata Communications settled at Rs 265.9, surging 12.96 per cent over the previous close. PTI SRS

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