Birla Sun Life Mutual Fund raises stake in ICRA to 9 pc

Birla Sun Life Asset Management Company today said it has raised its stake in rating agency ICRA to 9.01 per cent by buying additional 2 lakh shares from the open market.

At today's closing market price, Birla Sun Life Asset Management Company would have paid Rs 81.3 crore.

Shares of ICRA closed at Rs 4,065.70 per unit, up 1.83 per cent on the BSE.

Prior to buying 2 lakh shares through open market transaction, the mutual fund company had 7 per cent stake in the rating agency.