AU Small Finance Bank’s share price rose over 2 per cent in the morning trade on November 24 after the company sold its stake in AAVAS Financiers.
AU Small Finance Bank Ltd on Monday sold 35 lakh shares of AAVAS Financiers Ltd worth Rs 530 crore through an open market transaction.
In a regulatory filing, the bank said it has offloaded a 4.46 per cent stake in AAVAS Financiers, formerly known as AU Housing Finance Ltd.
As per the latest shareholding pattern, AU Small Finance Bank Ltd held 4.57 per cent in the firm. After the sale, the company holds 3,383 equity shares in AAVAS.
The regulatory filing said that AU Small Finance Bank carried out a sale of 35 lakh shares of the face value of Rs 10 each held in AAVAS Financiers constituting about 4.46 per cent of the paid-up capital of the company.
At 12:30 hours, AU Small Finance Bank was quoting at Rs 879.50, up to Rs 10.30, or 1.18 per cent on the BSE.
The share touched its 52-week high of Rs 1217.70, and the 52-week low of Rs 1217.70.
AAVAS reported a net profit for the second quarter ended September 2020 at Rs 66.04 crores, against Rs 76.03 crores for the corresponding quarter of the previous year. Total income stood at Rs 270.45 crores, for the September quarter with an increase of 16.9 per cent year-on-year.