New Delhi: Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore, representing a 62.5 per cent gain on the investment.
On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore.
“In furtherance to above, we would like to inform you that the company has today sold its entire stake in RBL Bank for a consideration of Rs 678 crore representing a 62.5 per cent gain on the investment,” M&M said in a regulatory filing.
According to the block deal data available on the NSE, M&M offloaded 2.11 crore (2,11,43,000) shares or a 3.45 per cent stake in RBL Bank.
The transaction was valued around Rs 677.95 crore, and was executed at an average price of Rs 320.65 apiece. At the end of Q2 FY26, M&M held a 3.45 per cent stake in RBL Bank, as per the shareholding data on the BSE.