CSB Bank Promoter Fairfax Pares Stake For Rs 595 Crore; Amansa Capital, Acorn Among Buyers
FIH Mauritius Investments Ltd. sold 1.68 crore shares for an average price of Rs 352.75 apiece.
CSB Bank Ltd. promoter Fairfax Group offloaded 9.7% stake in CSB Bank for Rs 595 crore via open market deals on Thursday. The Canadian billionaire Prem Watsa-owned company's unit FIH Mauritius Investments Ltd. sold 1.68 crore shares for an average price of Rs 352.75 apiece, as per block deal data on the NSE.
The promoter owned 49.72% stake in the Kerala-based private sector lender as of March.
Prominent buyers include Amansa Holdings, which acquired 4.77% stake for Rs 292 crore; affiliates of Australia-based Acorn Capital bought 1%; ICICI Prudential Mutual Fund purchased 0.69%; and Abu Dhabi Investment Authority secured 0.58%.
DSP Mutual Fund (MF), WhiteOak Capital MF, Edelweiss Tokio Life Insurance Co, Goldman Sachs, and Morgan Stanley were among the buyers.
Shares of CSB Bank closed 2.57% at Rs 365.10 apiece, as compared with a 0.74% advance in the benchmark NSE Nifty 50.
