Warhol Sells 3.63% Stake in ING Vysya Bank

Mumbai: ING Vysya Bank shareholder Warhol Ltd today sold its 3.63 per cent stake in the private sector lender for an estimated Rs 674 crore.

According to the bulk deal information with the stock exchanges, Warhold offloaded a total of 69.50 lakh shares (3.63 per cent stake) of ING Vysya on the BSE and the National Stock Exchange (NSE).

ING Vysya shares were sold for an average price of Rs 970 apiece, amounting the transaction size to Rs 674.16 crore.

In separate transactions, two entities -- The New Economy Fund and New World Fund -- acquired a total of 56.79 lakh shares of ING Vysya Bank for a little over Rs 553 crore.

At the end of December quarter 2014, Warhol held 86.37 lakh shares of ING Vysya representing 4.52 per cent stake in the bank.

In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an all-stock deal valued at Rs 15,000 crore.

On January 8, this year, Kotak Mahindra has secured its shareholders' approval for amalgamation of Bangalore-based ING Vysya Bank with itself.

ING Vysya Bank shares today rose 3.95 per cent to close at Rs 997.95 apiece on the BSE.