Canara Bank invites bids to sell 30 pc stake in Can Fin Homes

State-owned Canara Bank on Friday invited bids to sell 30 per cent stake in its housing finance subsidiary Can Fin Homes Ltd (CFHL). Bids have been invited through merchant bankers for sale of 3,99,30,365 equity shares of the face value of Rs 2 each, constituting 29.99 per cent, Canara Bank said in a regulatory filing.

The decision to invite bids comes ahead of amalgamation of Syndicate Bank with Canara Bank. Last year, Canara Bank had called off move to divest entire shareholding in housing finance subsidiary Can Fin Homes after receiving lower than expected price quotation.

Can Fin Homes has a pan India network of 132 branches, 20 affordable housing loan centres (AHLCs) and 20 satellite offices with customer base of over 1.2 lakh.

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