Karur Vysya Bank's two shareholders - India Max Investment Fund and Subramanian Subbiah - today offloaded nearly 13 lakh shares of the private-sector lender for Rs 50 crore through open market transactions.
India Max Investment Fund sold 5.81 lakh shares of Karur Vysya Bank for Rs 390 apiece, valuing the deal at Rs 22.66 crore, according to data available with the stock exchanges. In addition, Subbiah offloaded 7.13 lakh shares in Karur Vysya Bank at the same price in a transaction worth Rs 27.80 crore.
At the end of the December, 2011 quarter, India Max Investment Fund held 41.8 lakh shares, or 3.9 per cent stake in the banking entity, while Subbiah owned 14.26 lakh equities or 1.33 per cent stake in Karur Vysya Bank.
Meanwhile, Olympus India Holdings picked up 27.11 lakh shares of KVB for Rs 390 per share in a deal worth Rs 105.76 crore, according to BSE data. Shares of Karur Vysya Bank closed at Rs 398.90 apiece on the BSE, up 1.97 per cent from their previous close.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
