SBI Life Insurance Acquires Additional Stake in KIMS for Rs 184 Crore

SBI Life Insurance has purchased an additional 7.75 lakh shares of Krishna Institute of Medical Sciences (KIMS) for Rs 184 crore, amounting to a 0.97% stake. The transaction was done at an average price of Rs 2,373.3 per share. ICICI Ventures' affiliates sold their shares at the same price.

SBI Life Insurance has acquired an additional 7.75 lakh shares of Krishna Institute of Medical Sciences (KIMS) at a price of Rs 184 crore through open market transactions, as reported on Tuesday.

According to data from the BSE, SBI Life Insurance Company purchased 7,75,758 shares, equating to a 0.97 per cent stake in KIMS. The shares were bought at an average price of Rs 2,373.3 each, bringing the total transaction value to Rs 184.11 crore.

Simultaneously, ICICI Ventures' affiliates, India Advantage Fund S4-I and Dynamic India Fund S4 US-I, sold shares of KIMS at the same price. Consequently, the stock of Krishna Institute of Medical Sciences declined by 0.30 per cent, closing at Rs 2,370.50 apiece on the BSE. Previously, in February, SBI Life Insurance had acquired a 1.4 per cent stake in KIMS for Rs 239 crore.

(With inputs from agencies.)