Credo India Thematic Fund has bought 28.6 lakh shares in the private sector lender IndusInd Bank. The shares were purchased at an average price of Rs 415.5 aggregating the deal size to Rs 118.83 crore.
Till the end of September quarter, the foreign fund house held 1.53 crore shares representing 3.28% stake in the bank. It has now hiked its stake by purchasing 28.6 lakh shares representing 0.6% holding in the bank.
The shares were acquired from Banque Profile De Gestion Sa, one of the shareholder of the bank. At the end of July-September quarter, the entity owned 1.24 crore shares or 2.65% holding in IndusInd Bank.
