Citigroup buys shares of two banks for Rs 222 crore

US-based Citigroup on Monday bought shares of two private lenders, RBL Bank and South Indian Bank, for Rs 222 crore through open market transactions. Citigroup through its affiliate Citigroup Global Markets Mauritius purchased shares through two separate bulk deals on the BSE.

As per the data on the BSE, Citigroup Global Markets Mauritius acquired 66.97 lakh shares amount to 1.11 per cent stake of RBL Bank. It also picked up more than 1.76 crore shares or 0.7 per cent stake in South Indian Bank.

The shares of RBL Bank were picked up at an average price of Rs 255.40 apiece and that of South Indian Bank at Rs 28.78 per piece, taking the combined transaction value to Rs 221.89 crore.

Copthall Mauritius Investment Ltd sold shares of RBL Bank and South Indian Bank at the same price.

On Monday, shares of RBL Bank gained 0.37 per cent to close at Rs 255.55 apiece and scrip of South Indian Bank plunged 3.25 per cent to settle at Rs 28.55 per piece on the BSE.