AU Small Finance Bank sells Aavas Financiers' shares worth Rs 530 cr

AU Small Finance Bank Ltd on Monday sold 35 lakh shares of Aavas Financiers Ltd worth Rs 530 crore through an open market transaction.

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.

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.