Olympus India acquires shares worth Rs105.76 crore of Karur Vysya Bank
19 Apr 2012
Olympus India Holdings Ltd, part of the independent middle market private equity firm Olympus Capital Holdings Asia, yesterday acquired around 27 lakh shares for Rs105.76 crore in Karur Vysya Bank.
Two of the bank's investors, India Max Investment Fund and Subbiah Subramanian, sold their shares worth Rs50 crore at Rs390 a share, and Olympus India acquired 27.11 lakh shares from the market at the same price, valuing the total transaction at Rs105 crore.
India Max Investment, which held around 41,80,529 shares or around 3.9 per cent of Karur Vysya Bank, sold 5,81,243 shares for Rs22.67 crore, while Subramanian, who had around 14,26,053 or around 1.33 per cent, sold 7,13,000 shares for Rs27.8 crore, according to data from Bombay Stock Exchange.
The sale comes less than a week after Boyance Infrastructure Pvt Ltd sold 5,59,882 shares of Karur Vysya Bank at Rs380.03 a share, for a total of Rs21.28 crore.
In late March, Boyance had sold 12,00,000 shares of the private-sector lender at Rs375 per share, for an aggregate of Rs45 crore.