IndusInd Bank shares fall nearly 4% as Goldman Sachs Investment buys 0.9% stake

12 Oct 2022 , 07:40 AM

According to bulk deal data on the NSE website, Goldman Sachs Investment (Mauritius) purchased 69,66,712 equity shares, or 0.9% of IndusInd Bank, at an average price of Rs1,167.53 per share. This is less than the day’s earlier closing price of Rs1210.3.

As of June 30, Goldman Sachs owned 1.2% of the private sector lender through a Singapore-based subsidiary. Holdings by foreign investors in the lender are relatively substantial at 45.83%.

At an average price of Rs1,168.26 per share, Route One Fund I LP sold 120,00,000 shares, or 1.5% of the bank. At the end of June, the FII owned 2.75% of the bank.

IndusInd Bank’s stock dropped about 4% in Tuesday’s trading, closing at Rs1,164.6 per share on the NSE.

IndusInd shares have returned almost 31% year to date, compared to returns of 11.25% for the Nifty Private Bank index during the same period.

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