IIFL’s subsidiary India Infoline Investment Services, has acquired over 4% stake in Lakshmi Vilas Bank for Rs.106 crore, via an open market transaction.

As per the bulk deal data with BSE, India Infoline Investment Services purchased 1.06 crore shares, amounting to 4.13% stake, in Lakshmi Vilas Bank. The shares were bought at a price of Rs.100.1 apiece, valuing the transaction at Rs.105.93 crore. Further, M N Dastur and Company, were among the sellers of the shares.

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