Can’t make this stuff up. Morgan Stanley, that was acting as one of the financial advisers to Apollo, ended up being the ultimate winner in the whole kerfunkel.
On just the 2.7M shares it bought in July, it ended up making Rs.104M in 6 months. So, did they bet on the collapse of the very deal that they were advising? Smells funny…
Sources:
Morgan Stanley buys 0.5% stake
Morgan Stanley Asia sells 46.50 lakh shares of Apollo Tyres
Related:
Apollo Tyres: Buyer’s Remorse, Part III
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