Foreign fund Amansa Holdings today offloaded its entire 2.56 percent stake in Cholamandalam Investment and Finance Company for a little over Rs 388 crore through an open market transaction.
According to bulk deal data available with the National Stock Exchange (NSE), Amansa Holdings sold a total of 40 lakh shares, amounting to 2.56 per cent stake, of Cholamandalam Investment and Finance Company.
The scrips were sold at an average price of Rs 970.21 apiece, valuing the transaction at Rs 388.08 crore, the data showed.
The buyer(s) of the shares could not be ascertained immediately.
As of December quarter, Amansa Holdings Private Limited held 2.56 per cent stake in Cholamandalam.
Cholamandalam, financial services arm of the Murugappa Group, offers vehicle finance, home loans, home equity loans, SME loans, investment advisory services and stock broking, among others. It operates from over 700 branches across India with assets under management of over Rs 30,000 crore.
Shares of Cholamandalam Investment and Finance Company today fell by 4.48 per cent to close at Rs 971.80 on the NSE.