AU Small Finance Bank sells 4.46 pc stake in Aavas Financiers' shares for Rs 530 cr

As many as 15,60,000 shares were purchased by Nomura India Investment Fund Mother Fund and SBI Life Insurance Company Ltd at a price of Rs 1,515 apiece, as per the data. The regulatory filing said that on Monday, AU Small Finance Bank carried out sale of 35 lakh shares of face value of Rs 10 each held in Aavas Financiers constituting about 4.46 per cent of paid up capital of company.

AU Small Finance Bank Ltd on Monday sold 35 lakh shares of Aavas Financiers Ltd worth Rs 530 crore through an open market transaction. In a regulatory filing, the bank said it has offloaded 4.46 per cent stake in Aavas Financiers, formerly known as AU Housing Finance Ltd.

According to bulk deal data available on the BSE, AU Small Finance Bank offloaded a total of 35,00,000 shares at an average price of Rs 1,515.16 per share. This values the deal at Rs 530.30 crore. As many as 15,60,000 shares were purchased by Nomura India Investment Fund Mother Fund and SBI Life Insurance Company Ltd at a price of Rs 1,515 apiece, as per the data.

The regulatory filing said that on Monday, AU Small Finance Bank carried out sale of 35 lakh shares of face value of Rs 10 each held in Aavas Financiers constituting about 4.46 per cent of paid up capital of company. Post sale, the balance shareholding stands at 3,383 shares in Aavas Financiers, it added.

AU Small Finance Bank and Nomura India Investment Fund Mother Fund held 4.57 per cent and 1.53 per cent stake, respectively, in Aavas Financiers as public shareholders at the end of September quarter. Shares of Aavas Financiers closed 2.30 per cent higher at Rs 1,527.05 on the BSE.