Latest News | Route One Fund Sells 1.54 Pc Stake in IndusInd Bank for Rs 1,401 Cr

New Delhi, Oct 11 (PTI) US-based hedge fund Route One Fund I LP on Tuesday divested a 1.54 per cent stake in IndusInd Bank for Rs 1,401 crore through an open market transaction.

Route One Fund I LP offloaded 1,20,00,000 shares, amounting to a 1.54 per cent stake in the company, as per the data available with the National Stock Exchange (NSE).

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The shares were disposed of at an average price of Rs 1,168.26 apiece, taking the transaction value to Rs 1,401.91 crore.

Meanwhile, Goldman Sachs Investment (Mauritius) I Ltd picked up over 69 lakh shares of the company.

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As of the June quarter, Route One Fund I LP held a 2.75 per cent stake in the company, shareholding data showed with the bourse.

Shares of IndusInd Bank closed 3.76 per cent lower at Rs 1,164.80 on NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)