In New Delhi, Canadian billionaire Prem Watsa's Fairfax Group on Thursday sold a 9.7 per cent stake in CSB Bank for Rs 595 crore through an open market transaction.
FIH Mauritius Investments, an arm of the Toronto-based Fairfax Group, offloaded over 1.68 crore shares of CSB Bank through a block deal on the National Stock Exchange (NSE).
FIH Mauritius Investments is also the promoter of Thrissur-based CSB Bank.
According to available data, FIH Mauritius Investments sold 1,68,68,645 shares, equivalent to a 9.7 percent stake in private sector lender CSB Bank.
The shares were disposed of at an average price of Rs 352.75 per piece, taking the transaction size to Rs 595.04 crore.
After the share sale, FIH Mauritius Investments' stake in CSB Bank decreased from 49.72 percent to 40 percent.
Buyers of CSB Bank shares included DSP Mutual Fund (MF), ICICI Prudential MF, WhiteOak Capital MF, Edelweiss Tokio Life Insurance Company, Goldman Sachs, Morgan Stanley, Amansa Holdings and Abu Dhabi Investment Authority.
Shares of CSB Bank rose 2.57 per cent to close at Rs 365.10 apiece on the NSE.
In January this year, CSB Bank recorded a 4 per cent decline in its profit to Rs 150 crore in the third quarter ended December 2023.
The Kerala-based private sector bank made a net profit of Rs 156 crore in the same quarter of the previous year. Its total revenue rose to Rs 887 crore during the quarter under review, up from Rs 682 crore in the same period last year.
In another transaction on the NSE, Kotak Mutual Fund sold 51.30 lakh shares of Zee Entertainment Enterprises Ltd (ZEEL) for Rs 79 crore through an open market transaction.
Kotak Mutual Fund (MF) through its subsidiary Kotak Mahindra MF A/C Kotak Balanced Advantage Fund offloaded 51.30 lakh shares or 0.5 per cent stake in ZEEL at an average price of Rs 154.20 each, based on bulk transaction data.
This took the transaction size to Rs 79.10 crore.
Details of the buyers of ZEEL shares could not be ascertained.
On Thursday, ZEEL scrips fell 2.96 per cent to settle at Rs 151 apiece on the NSE.
FIH Mauritius Investments, an arm of the Toronto-based Fairfax Group, offloaded over 1.68 crore shares of CSB Bank through a block deal on the National Stock Exchange (NSE).
FIH Mauritius Investments is also the promoter of Thrissur-based CSB Bank.
According to available data, FIH Mauritius Investments sold 1,68,68,645 shares, equivalent to a 9.7 percent stake in private sector lender CSB Bank.
The shares were disposed of at an average price of Rs 352.75 per piece, taking the transaction size to Rs 595.04 crore.
After the share sale, FIH Mauritius Investments' stake in CSB Bank decreased from 49.72 percent to 40 percent.
Buyers of CSB Bank shares included DSP Mutual Fund (MF), ICICI Prudential MF, WhiteOak Capital MF, Edelweiss Tokio Life Insurance Company, Goldman Sachs, Morgan Stanley, Amansa Holdings and Abu Dhabi Investment Authority.
Shares of CSB Bank rose 2.57 per cent to close at Rs 365.10 apiece on the NSE.
In January this year, CSB Bank recorded a 4 per cent decline in its profit to Rs 150 crore in the third quarter ended December 2023.
The Kerala-based private sector bank made a net profit of Rs 156 crore in the same quarter of the previous year. Its total revenue rose to Rs 887 crore during the quarter under review, up from Rs 682 crore in the same period last year.
In another transaction on the NSE, Kotak Mutual Fund sold 51.30 lakh shares of Zee Entertainment Enterprises Ltd (ZEEL) for Rs 79 crore through an open market transaction.
Kotak Mutual Fund (MF) through its subsidiary Kotak Mahindra MF A/C Kotak Balanced Advantage Fund offloaded 51.30 lakh shares or 0.5 per cent stake in ZEEL at an average price of Rs 154.20 each, based on bulk transaction data.
This took the transaction size to Rs 79.10 crore.
Details of the buyers of ZEEL shares could not be ascertained.
On Thursday, ZEEL scrips fell 2.96 per cent to settle at Rs 151 apiece on the NSE.
