 "Route One Fund sells 1.54% stake in IndusInd Bank for Rs 1,401 cr")
US-based hedge fund Route One Fund I LP on Tuesday divested a 1.54 per cent stake in IndusInd Bank for Rs 1,401 crore through an open market transaction.
Route One Fund I LP offloaded 1,20,00,000 shares, amounting to a 1.54 per cent stake in the company, as per the data available with the National Stock Exchange (NSE).
The shares were disposed of at an average price of Rs 1,168.26 apiece, taking the transaction value to Rs 1,401.91 crore.
Meanwhile, Goldman Sachs Investment (Mauritius) I Ltd picked up over 69 lakh shares of the company.
As of the June quarter, Route One Fund I LP held a 2.75 per cent stake in the company, shareholding data showed with the bourse.
Shares of IndusInd Bank closed 3.76 per cent lower at Rs 1,164.80 on NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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