Citigroup buys more stake in India Infoline

Private fund house Citigroup Global Markets (Mauritius) has hiked its stake in India Infoline, a stock brokerage firm, to 8.42 per cent after buying shares totaling Rs 1,424.17 crore through an open market transaction.

The fund house has purchased a total of 1.29 crore shares representing 4.57 per cent stake in the company, India Infoline said in a disclosure to the Bombay Stock Exchange (BSE).

Prior to the transaction, Citigroup Global Markets (Mauritius) held 3.85 per cent stake in the company, while now it holds 8.42 per cent stake or 23,867,965 shares of India Infoline.

Shares of India Infoline were trading at Rs 143.75 on the BSE, up 1.73 per cent from the previous close.