Citigroup Global Markets Mauritius has hiked stake in Tulip Telecom to over 5% by buying shares valued at Rs 53.16 crore in an open market transaction.

It bought 5,67,721 shares, representing 1.95 % stake at Rs 936.55 per share.

Prior to this, the firm held 3.09% stake in Tulip.

Meanwhile, Swiss Finance Corp (Mauritius) has sold 1.95 % stake or 5,67,721 shares at Rs 936.55 per piece of Tulip Telecom for Rs 53.16 crore.