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Last Updated : Jan 15, 2020 09:33 AM IST | Source: Moneycontrol.com

Can Fin Homes share price falls 3% after Canara Bank calls off stake sale

The divestment process was under progress since September last year.

 
 
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Can Fin Homes share price shed 3.5 percent in the early trade on January 15 after Canara Bank called off stake sale in the company.

Public sector lender Canara Bank on January 14 said it has decided to call-off the divestment process of its entire stake in Can Fin Homes.

The divestment process was under progress since September last year.

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In September 2019, the lender invited bids to sell its entire 30 percent stake in its housing finance subsidiary Can Fin.

It had invited bids through merchant bankers for sale of 3,99,30,365 equity shares of the face value of Rs 2 each, constituting 29.99 percent.

In 2018 also, Canara Bank had called off move to divest entire shareholding in housing finance subsidiary Can Fin Homes after receiving lower than expected price quotation.

At 09:24 hrs, Can Fin Homes was quoting at Rs 374.95, down Rs 11.45, or 2.96 percent on the BSE.

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First Published on Jan 15, 2020 09:33 am
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