Yusuffali buys over 2% stake in South Indian Bank

NRI businessman Yusuffali M A has picked up more than two per cent stake in South Indian Bank for an estimated Rs 63 crore in a move to expand his investment portfolio in the financial sector.

The Kerala businessman, who is based in the Gulf region, already has stakes in at least two other lenders -- Federal Bank and Dhanlaxmi Bank -- all of which are based in South India.

Yussufali purchased three crore shares of South Indian Bank at a price of Rs 21 per scrip valuing the transaction at Rs 63 crore, as per bulk deal data available on the NSE yesterday.

Three crore shares account for about 2.23 per cent stake in the lender.

Meanwhile, FID Funds Mauritius offloaded more than 2.7 crore shares of the lender.

Yusuffali -- who is steering the diversified LuLu Group -- held 3.69 per cent stake in Federal Bank at the end of December, 2013.

During that period, he held 4.88 per cent shareholding in Dhanlaxmi Bank.

He also has stake in Catholic Syrian Bank.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Companies of the future must shed old identities to be more meaningful

    In the animal kingdom, the rule is, eat or be eaten; in the human kingdom, define or be defined, as psychiatrist Thomas Stephen Szasz once noted.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Corruption law calls for correction

In any country, it is its laws against corruption that ...

Kuruvilla Pandikattu SJ

Believers of the world set to rise

The world is set to become more religious as the ...

Gautam Gupta

The changing face of the fashion world

Indian fashion industry, like every fashion industry in the world, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture