Alpha Wave Global offloads 7% stake in Aye Finance

New Delhi: Alpha Wave Global has exited from Aye Finance, by divesting its entire 7.78 per cent stake in the micro-enterprise lender for Rs 322 crore through a series of block deals on the BSE.

Alpha Wave India I LP, an affiliate of the New York-based alternative asset manager, sold more than 1.91 crore shares in two tranches, representing a 7.78 per cent stake in Gurugram-based Aye Finance.

The transactions were executed on Thursday at prices ranging from Rs 168.02 to Rs 168.19 apiece, according to data on the BSE.

On the other side of the trade were a mix of domestic and foreign institutional investors, including US-based Millenium Management and veteran investor Madhusudan Kela’s Singularity AMC bought shares at the same price.

Millenium Management, through its arm Integrated Core Strategies (Asia) Pte picked up 23.80 lakh shares for Rs 40 crore, while Singularity AMC bought 14.88 lakh shares for Rs 25 crore.