Lotus Global sells 5.5 lakh shares of Karur Vysya for Rs 23 cr

MUMBAI: Foreign fund house Lotus Global Investments Ltd today sold 5.5 lakh shares of Chennai-based Karur Vysya Bank for over Rs 23 crore.

Lotus Global, which held 33.49 lakh shares, or 3.13 per cent stake, at the end of March quarter in Karur Vysya Bank, offloaded 5.5 lakh shares of the banking entity, according to the bulk data available with stock exchanges.

The shares were sold at an average price of Rs 426.04 aggregating the deal to Rs 23.43 crore.

Yesterday, Lotus Global offloaded 8 lakh shares of Karur Vysya Bank for Rs 34 crore through open market transactions.

Franklin India Flexi Cap Fund had bought 5.97 lakh shares of the bank for Rs 25.44 crore on the same day.

In a separate bulk deal, Financial consultancy firm IFCI Ltd sold 15.81 lakh shares of Tulip Telecom for Rs 5.56 crore.

As per stock exchanges, the shares of Tulip Telecom were purchased for Rs 35.2 apiece.

At the BSE, shares of Karur Vysya Bank grew by 1.16 per cent to end the day's trade at Rs 430.95 apiece, while Tulip Telecom fell by around five per cent to settle at Rs 35.80.