Bank of Baroda and Kotak Mahindra Prime, a wholly owned subsidiary of Kotak Mahindra Bank, on Wednesday announced the companies will be selling their complete equity stake in Equifax Credit Information Services, a global data, analytics and technology company.
Both Bank of Baroda and Kotak Mahindra Bank announced their decision to sell their equity stake on exchange filings. Bank of Baroda decided to sell their 10% equity stake in the company for Rs 91 crore.
The bank holds 1,35,00,000 equity shares which it sold for Rs 67.43 each. On the other hand, Kotak Mahindra Prime decided to sell its 5.56% equity stake for Rs 50 crore. The subsidiary which holds 75,00,000 equity shares for Rs 67.43 each. The face value of the shares in Rs 10.
Equifax Credit Information Services was incorporated in the year 2007 and received a certificate of registration from RBI in 2010. It has a presence in 17 countries globally. For the fiscal that ended in 2019 the company reported a profit of Rs 11.87 crore and a total income of Rs 50.83 crore.
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Source: Financial Express