Citigroup Purchases Bank Shares Worth Rs 222 Cr
US-based Citigroup purchased shares of two private lenders, RBL Bank and South Indian Bank, for Rs 222 crore through open market transactions on Monday. Citigroup Global Markets Mauritius, its affiliate, acquired 66.97 lakh shares, equivalent to a 1.11 per cent stake in RBL Bank, and over 1.76 crore shares, constituting a 0.7 per cent stake in South Indian Bank, through two separate bulk deals on the BSE.
According to BSE data, Citigroup bought RBL Bank shares at an average price of Rs 255.40 each and South Indian Bank shares at Rs 28.78 each, totaling Rs 221.89 crore. Copthall Mauritius Investment sold shares of both banks at the same price.
On Monday, RBL Bank's shares rose by 0.37 per cent to close at Rs 255.55, while South Indian Bank's stock fell by 3.25 per cent to settle at Rs 28.55 on the BSE.
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