AU Small Finance Bank sells stake in Aavas Financiers for Rs. 530 crore
AU Small Finance Bank Ltd sold 35 lakh shares or 4.46% in mortgage financier Aavas Financiers Ltd for Rs. 530 crore in an open market transaction.
According to bulk deal data on BSE, AU Small Finance Bank Ltd sold 35 lakh shares or 4.46% of Aavas Financiers at Rs1,515.16 apiece, aggregating to Rs. 530.31 crore.
As per the latest shareholding pattern, AU Small Finance Bank Ltd held 4.57% in the firm.
Nomura India Investment Fund Mother Fund, SBI Life Insurance Company Ltd bought 1.15% and 0.84% stake in Aavas Financiers Ltd for Rs. 136.35 crore and Rs. 99.99 crore respectively.
Aavas Financiers, earlier known as Au Housing Finance was sold to private equity firms Kedaara Capital and Partners Group by its parent Au Small Finance Bank in 2016. Aavas listed on stock exchanges in 2018.
In August, Partners sold a Rs. 361 crore stake in the lender through a block deal. Earlier in February, Kedaara Capital had sold part of its Aavas stake for Rs. 666 crore.
