Lotus Global Investments has sold eight lakh shares of Karur Vysya Bank in an open market transaction. The foreign fund house has sold the shares at an average price of Rs 426.01 taking the deal size to Rs 34 crore.
The foreign fund house held 33.49 lakh shares amounting 3.13% of Chennai-based bank at the end of March quarter. Meanwhile, Franklin India Flexi Cap Fund bought 5.97 lakh shares of Karur Vysya Bank for Rs 25.44 crore.
Karur Vysya Bank is among 6 old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.
