Credo India Thematic Fund today hiked its stake in IndusInd Bank by picking up 28.6 lakh shares in the private sector lender for about Rs 119 crore.

Credo, which held 1.53 crore shares or 3.28 per cent stake in IndusInd Bank at the end of September quarter, bought 28.6 lakh shares in the private sector lender (amounting to 0.6 per cent holding), the stock exchanges data showed.

The shares were purchased on average price of Rs 415.5 aggregating the deal size to Rs 118.83 crore.

The shares were acquired from Banque Profile De Gestion Sa, one of the shareholder of the bank. At the end of July-September quarter, the entity owned 1.24 crore shares or 2.65 per cent holding in IndusInd Bank.

IndusInd Bank scrip rose 1.41 per cent to close at Rs 417.20 on the BSE.

(This article was published on December 10, 2012)
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