Orient Global Tamarind Mauritius, a well-known foreign fund, has acquired up nearly 1% stake in private lender Axis Bank on Tuesday for Rs 237.85 crore in open market transactions.

The fund has picked 30 lakh equity shares in Axis Bank at a price of Rs 792.85 each in a bulk deal, according to data revealed by BSE.

While, in a separate deal, another fund, Swiss Finance Corporation (SFC) has sold off 30 lakh shares in Axis Bank at the same price.

The SFC held 3.36 % stake in Axis Bank for the quarter ended December 31, 2007, while promoters owned about 42% stake in the bank.

The shares of Axis bank closed today at Rs 747, down 5% against previous close of Rs 782. It touched an intraday high and low of Rs 833 and Rs 740 respectively.