AU Small Finance Bank Shareholder Divests 1.47% Stake For Rs 737 Crore
Shares of AUSFB closed 0.96% lower at Rs 674.45 apiece on the BSE.
A public shareholder of AU Small Finance Bank Ltd. sold 1.47% stake in the company for Rs 736.6 crore, through open market transactions on Tuesday.
Westbridge Aif I offloaded 1.08 crore shares at Rs 676.06 apiece, according to the bulk deal data on the BSE. Westbridge Aif I held a 1.75% stake in the bank as of June.
In August, Fincare Business Services divested a 1.7% stake or 1.27 crore shares worth Rs 803.6 crore through open market transactions at Rs 630 apiece.
On Tuesday, the lender submitted an application to the Reserve Bank of India to ask approval for a voluntary transition from a small finance bank to a universal bank.
Shares of AUSFB closed 0.96% lower at Rs 674.45 apiece on the BSE, compared to a 0.01% fall in the benchmark Sensex. The stock has fallen 5.92% in the last 12 months and 14.37% on a year-to-date basis.
Out of 25 analysts tracking the company, 14 have a 'buy' rating on the stock, six suggest a 'hold' and five recommend 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 4.3%.
