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| Edited By: |Source: Reuters |Updated: Apr 14, 2018, 02:03 AM IST
Hedge fund Galleon, which is winding down its funds after its founder was accused of heading an insider trading ring, has sold its holding in India's Edelweiss Capital, stock exchange data showed.
New York-based Galleon sold its complete holding of 5.27 million shares, or 7% of the Indian firm, at Rs485 ($10.4) each, Bombay Stock Exchange data showed on Friday.
Galleon sold the shares to three entities, including Reliance Mutual Fund and Edelweiss' employee welfare trust, the data showed.
Edelweiss shares ended 0.9% higher at Rs485.25 in a Mumbai market that rose 1.4%.
Galleon owned stakes in three Indian listed firms. In October it sold 9,50,000 shares in engineering firm Shriram EPC, cutting its stake to 2.4% from 4.6%.
It also holds a small stake in Pipavav Shipyards Ltd.
