Macquarie Bank has sold 1,112,000 shares of Karnataka Bank in an open market transaction. The shares were sold at Rs 135.17 a piece on National Stock Exchange (NSE).
Karnataka Bank is a Mangalore-based, small-sized, old private sector bank which was set up in 1924. The bank had 510 branches and 409 ATMs spread across 20 states and 2 UTs across the country. Majority of the branch network is in the state of Karnataka.