 "CDC Group sells 3.56% stake in IIFL Finance for Rs 453 cr via open market")
CDC Group Plc, the development finance institution owned by the UK government, on Friday divested a 3.56 per cent stake in IIFL Finance Ltd for Rs 453 crore through an open market transaction.
According to the bulk deal data available with the National Stock Exchange (NSE), CDC Group Plc sold 1,35,01,587 shares of the company.
The shares were disposed of at an average price of Rs 335.64 apiece, valuing the transaction at Rs 453.16 crore.
Meanwhile, Morgan Stanley Asia Singapore Pte picked up the shares of the company.
As of the June quarter, CDC Group plc, which is one of the public shareholders of IIFL Finance, owned 1.35 crore shares, amounting to a 3.56 per cent stake in the company, the shareholding pattern showed.
Shares of IIFL Finance closed 5.62 per cent lower at Rs 331.50 on NSE.
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