General Atlantic sells IndusInd Bank shares worth Rs 398 cr

Sep 03 2014, 21:38 IST
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SummaryPrivate equity firm General Atlantic Service Company LLC today offloaded...

Private equity firm General Atlantic Service Company LLC today offloaded 65 lakh shares of IndusInd Bank for an estimated Rs 398 crore through open market route.

According to information available with the stock exchanges, General Atlantic sold 65 lakh shares, accounting to 1.23 per cent stake in the private sector lender.

The shares were offloaded on an average price of Rs 612 valuing the transaction at Rs 397.80 crore.

Meanwhile, Morgan Stanley Asia (Singapore) PTE picked up 34 lakh shares of IndusInd Bank for Rs 208 crore.

Currently, GA Global Investments Ltd hold 4.83

per cent stake in IndusInd Bank, which amounts to a total shares of about 2.54 crore, while Goldman Sachs held 2.2 per cent holding, or 1.15 crore scrips, in the bank.

Apart from the promoter group, GA Global is the largest shareholder in the bank, followed by others such as Bridge India Fund, Life Insurance Corporation of India and Goldman Sachs.

Shares of IndusInd Bank today closed at Rs 615.60 apiece on the BSE, up 0.34 per cent from the previous close.

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