Central Bank of India plans to divest stake in housing fin arm

State-owned Central Bank of India today said it plans to divest its stake in its unit Cent Bank Home Finance Ltd (CBHFL).
"With a view to unlocking the value of its strategic investments, the bank intends to disinvest its equity shareholding in CBHFL partly or fully to interested buyer by way of sale through a competitive bidding process," Central Bank of India said in a filing on the BSE.
"We would like to inform that purchase and sale of investments by the bank is a part of normal banking activities," it said.
The bank holds 16.10 crore equity shares of CBHFL constituting 64.40 per cent stake.

Other shareholders of the CBHFL are Housing and Urban Development Corporation Ltd (6.80 per cent), National Housing Bank (16 per cent), Specified Undertakings of Unit Trust of India (12.80 per cent).
Shares of the Central Bank of India of closed at Rs 73.80 per unit, up 1.37 per cent, on the BSE.