T Rowe Price sells Yes Bank shares for Rs 81.5 cr

Aug 21 2013, 20:22 IST
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The shares were sold for an average price of Rs 260.86 apiece valuing the transaction at Rs 81.49 cr. The shares were sold for an average price of Rs 260.86 apiece valuing the transaction at Rs 81.49 cr.
SummaryThe shares were sold for an average price of Rs 260.86 apiece valuing the transaction at Rs 81.49 cr.

Foreign fund house T Rowe Price New Asia Fund on Wednesday offloaded 31.24 lakh shares of private sector lender Yes Bank for an estimated Rs 81.50 crore.

As per the bulk deal details with the stock exchanges, T Rowe Price sold 31,24,121 shares of Yes Bank, through open market transactions.

The shares were sold for an average price of Rs 260.86 apiece valuing the transaction at Rs 81.49 crore.

In a separate bulk deal, Goldman Sachs Singapore acquired 18.62 lakh shares of Yes Bank, amounting to Rs 47 crore.

As of the April-June quarter, T Rowe Price New Asia Fund held 56.24 lakh shares of Yes Bank representing 1.56 per cent stake in the private sector lender.

In highly volatile trade today, banking stocks erased almost all the gains they notched up in early trade after the rupee declined sharply to sub-64 level.

Yes Bank, which jumped 17 per cent during the day to touch an intra-day high of Rs 284.40, settled with gains of just 5.27 per cent at Rs 255.55 on the BSE.

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