Home >Market >Stock-market-news >Warhol sells 3.63% stake in ING Vysya Bank

Mumbai: ING Vysya Bank Ltd shareholder Warhol Ltd on Tuesday sold its 3.63% stake in the private sector lender for an estimated 674 crore.

According to the bulk deal information with the stock exchanges, Warhold offloaded a total of 6.95 million shares (3.63% stake) of ING Vysya on BSE and the National Stock Exchange (NSE). ING Vysya shares were sold for an average price of 970 apiece, amounting the transaction size to 674.16 crore. In separate transactions, two entities—The New Economy Fund and New World Fund—acquired a total of 5.679 million shares of ING Vysya Bank for a little over 553 crore. At the end of the December quarter of 2014, Warhol held 8.637 million shares of ING Vysya representing 4.52% stake in the bank.

In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an all-stock deal valued at 15,000 crore. On 8 January, this year, Kotak Mahindra has secured its shareholders’ approval for amalgamation of Bangalore-based ING Vysya Bank with itself. ING Vysya Bank shares on Tuesday rose 3.95% to close at 997.95 apiece on BSE.

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