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Redwood Investment sells stake worth Rs 1,531 cr in AU Small Fin Bank


New Delhi: Global investor Redwood Investment today sold over 8 per cent stake in AU Small Finance Bank for Rs 1,531 crore, through open market transactions.

The block deal data available with the BSE showed that Redwood disposed of 2.40 crore shares, or 8.27 per cent stake in the bank.

The shares were disposed of at an average price of Rs 638, valuing the transactions at Rs 1,531.20 crore.

Also, Ourea Holdings sold 28.79 lakh shares, amounting to 0.99 per cent stake in the bank.

The shares were offloaded at a price of Rs 638 apiece by Ourea, translating into a transaction worth Rs 183.70 crore.

Among the buyers of the shares were AU Small Finance Bank’s promoter Sanjay Agarwal, SBI Mutual Fund, Nomura India Investment Fund Mother Fund, Reliance Mutual Fund and Sundaram Mutual Fund.

AU Small Finance Bank settled for the day on the BSE at Rs 694.60, up 7.92 per cent from the previous close.

Source: Economic Times