SBI Mutual Fund Buys 1.5% Stake Karur Vysya Bank For Rs 190 Crore

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

According to the bulk deal data available with the BSE and NSE, SBI Mutual Fund purchased a total of 1.2 crore shares, amounting to a 1.5% stake in Karur Vysya Bank.

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% to close at Rs 164.90 apiece on the BSE and gained 0.52% to settle at Rs 164.70 per piece on the NSE.