Financial Daily from THE HINDU group of publications
Wednesday, Dec 28, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 28, 2005 |
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Money & Banking
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Private Banks Markets - Stocks ICICI Bank sells 4.8% stake in Federal Bank for Rs 54.18 crore Our Bureau
Mumbai , Dec. 27 ICICI Bank on Tuesday sold 4.8 per cent stake in Federal Bank in the open market. Goldman Sachs and Kuroto Fund bought most of these shares. ICICI Bank sold these shares in two deals of 22.50 lakh shares at Rs 170.40 per share and 9 lakh shares at Rs 176. Out of these, Goldman Sachs bought 20 lakh shares and Kuroto Fund bought 9.80 lakh shares. The total amount realised by ICICI Bank from the sale is Rs 54.18 crore. At the end of September 2005, ICICI Bank had 20.76 per cent stake in Federal Bank. FIIs investment in the bank at that time was 15.51 per cent. In today's trading, Federal Bank stock gained 4.27 per cent to close at Rs 177.9 on the BSE.
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