CLSA Global Markets sells IDFC Bank shares worth Rs 208 cr

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CLSA Global Markets Pte offloaded over 4.40 crore shares of IDFC Bank for an estimated Rs 208 crore through an open market transaction on May 24.

IDFC Bank is one of the latest entrant into the private sector lending space of the country.

According to bulk deal data available with the stock exchanges, CLSA sold a total of 44,037,474 shares, amounting to 1.3 percent stake, of IDFC Bank.

The shares were offloaded on an average price of Rs 47.16 apiece, valuing the transaction at Rs 207.68 crore.

As on April 16, CLSA held 1.81 percent stake in the banking entity.

Meanwhile, Platinum Investment Management Ltd picked up 28,913,02 shares of IDFC Bank for Rs 136.35 crore.

Last week, Sun Pharma founder Dilip Shanghvi along with IDFC Bank and Telenor Financial Services dropped plans to set up payments bank in the country, nearly nine months after getting in-principle approval from the Reserve Bank.

Shares of IDFC Bank on May 24 closed 0.32 percent lower at Rs 47 apiece on BSE.