AU Small Finance Bank sells Aavas Financiers' shares worth Rs 530 crore

AU Small Finance Bank (AU SFB) sold 3.5 million shares of Aavas Financiers on the BSE on Monday, according to bulk deals' data.

The value of these shares, at Rs 1,515.2 apiece is Rs 530.3 crore, as per data from the exchange. Part of this, worth Rs 236.4 crore, was bought by Nomura India Investment Fund Mother Fund (Rs 136.4 crore) and SBI Life Insurance Company (Rs 100 crore).

The stock of Aavas Financiers was up 2.3 per cent at Rs 1,527.05 on Monday, while AU SFB closed 1.22 per cent lower at Rs 869.20. According to exchange data, AU SFB held 3.582 million shares in Aavas Financiers as on end September 2020.