SBI Mutual Fund buys 1.5 pc stake Karur Vysya Bank for Rs 190 cr

The shares were picked at an average price of Rs 162 apiece on both bourses, taking the combined aggregate deal size to Rs 194.40 crore.

New Delhi: SBI Mutual Fund on Tuesday acquired shares of scheduled commercial bank Karur Vysya Bank for Rs 190 crore through open market transactions.

According to the bulk deal data available with the BSE and NSE, SBI Mutual Fund (MF) purchased a total of 1,20,00,000 shares, amounting to a 1.5 per cent stake in Karur Vysya Bank.

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The shares were picked at an average price of Rs 162 apiece on both bourses, taking the combined aggregate deal size to Rs 194.40 crore.

Details of the sellers could not be ascertained.

On Tuesday, shares of Karur Vysya Bank rose 1.32 per cent to close at Rs 164.90 apiece on the BSE and gained 0.52 per cent to settle at Rs 164.70 per piece on the NSE.