Olympus Capital invests $38m in Karur Vysya

Olympus India bought shares in the Tamil Nadu-based regional institution on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on Wednesday.

That same day, Karur Vysya's shares closed at INR398.9 apiece on the BSE, up 1.97%. Olympus purchased 2.7 million shares at INR390 apiece on the BSE, a 2-3% discount to the closing price. India Max Investment Fund jettisoned around 581,000 shares, while Subbiah Subramanian sold 713,000 shares, each priced at the same level. As of the end of last year, India Max held around 418,000 shares, which amounted to a 3.9% equity stake; Subramanian owned 1.4 million shares, or 1.33%.

On the National Stock Exchange, meanwhile, Boyance Infrastructure offloaded around 559,000 Karur Vysya shares priced at INR380.03.

Other shareholders in the bank include GMR Group (4.93%), Rakesh Jhunjhunwala (4.27%) and Argonaut Ventures (1.03%). Last month, ChrysCapital acquired 4.2 million shares, equivalent to a 3.92% stake.

Karur Vysya increased its net revenues by 19% to INR8.9 billion over the past nine months, while its net profit rose 20% to INR354.9 million.

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• Topics
• PIPEs
• South Asia
• Financials
• Financial Services
• PIPE
• India
• Olympus Capital Holdings Asia
• ChrysCapital Management