M&M sells 3.53% stake in RBL Bank for ₹678 crore
pre-market1 source ↓written by the desknot a recommendation
- in RBL Bank
- 3.53% stake
- RBL Bank
- ₹678 crore
- on its initial
- 62.5% gain
- initial investment
- ₹417 crore
- Bank shares rose
- 1%
Mahindra & Mahindra (M&M) has sold its entire 3.53% stake in RBL Bank for ₹678 crore, realizing a 62.5% gain on its initial investment of ₹417 crore. Following this block deal, RBL Bank shares rose 1% to ₹327.50 on the NSE. M&M shares also saw a slight increase, trading at ₹3,630.90.
Not investment advice. For informational purposes only.