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Last Updated : May 15, 2020 10:19 PM IST | Source: Moneycontrol.com

Sunil Mittal's firm buys stake in AU Small Finance Bank

According to data available on BSE, Bharti SBM has bought 24, 12,000 shares in the bank at Rs 414.16 apiece on May 15. At this price, the transaction is valued at Rs 100 crore.

 
 
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Sunil Bharti Mittal-owned Bharti (SBM) Holdings Pvt. Ltd has picked up a stake in AU Small Finance Bank buying 24 lakh shares.

According to data available on BSE, Bharti SBM has bought 24, 12,000 shares in the bank at Rs 414.16 apiece on 15 May. At this price, the transaction is valued at Rs 100 crore.

This (24 lakh shares) will constitute 0.79 percent of AU Small Finance Bank.

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In 2018,  Singaporean wealth fund Temasek had picked up a 4.8  percent stake in the bank for $74 million through its wholly-owned subsidiary Camas Investments Pte.

This transaction happened in open market through block deal, according to the data. In Q4, AU Small Finance Bank posted a 3.45 per cent increase in its net profit to Rs 122.32 crore as against Rs 118.23 crore in the same period a year ago. The bank’s net income grew 43 per cent to Rs738 crore in the fourth quarter last fiscal from Rs 517 crore in the year-ago period.

In April 2019, Bharti (SBM) had increased stake in CG Power and Industrial Solutions by purchasing 44.6 lakh shares at Rs 38.84 per share. Of late, private banks have witnessed an increase in investor interest.

Recently, Caladium Investments, an affiliate of Singapore's GIC, increased its stake in private sector lender Bandhan Bank to 4.49 per cent.
First Published on May 15, 2020 07:52 pm
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