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Spire Investment Advisors sells 4.66% stake in Edelweiss Financial

India-based Spire Investment Advisors LLP has sold a 4.66% stake in Edelweiss Financial Services Ltd. in the open market.

Spire Investment Advisors sold 38,750,000 shares of Edelweiss Financial Services at 137.40 rupees per share, according to March 28 data from the BSE. In a separate same-day bourse filing, Ivy Financial Services Pvt. Ltd. said unit Shah Family Discretionary Trust has acquired the said stake.

Spire Investment Advisors now holds a 0.38% stake, or 3,200,000 shares, in Edelweiss Financial Services. The company was part of Edelweiss Financial Services' promoter and promoter group, which owned 41.54% of Edelweiss Financial Services as of Dec. 31, 2016.

As of March 28, US$1 was equivalent to 65.04 Indian rupees.