CDC Group sells part of Ujjivan Financial Services stake
CDC Group Plc, the development finance institution owned by the UK government, on Wednesday sold a part of its stake in Ujjivan Financial Services Ltd for around Rs212 crore, data from stock exchanges shows.
The shares were sold in a bulk deal at Rs360 apiece.
CDC sold a total of 5.9 million shares of the lending firm, bringing down its shareholding in the company to 1.91% from 6.84% in the quarter ended 30 June.
CDC started selling its stake in Ujjivan in the second quarter of the current calendar year, after the 12-month postipo lock-in on its shareholding ended in May this year.
On 19 May, CDC Group sold a total of 2.75 million shares worth approximately Rs99 crore at a price of Rs360 apiece.
CDC invested in Ujjivan in 2015.
Since its initial public offering in May last year, the stock has gained 70.5% from its issue price, to close at Rs358.15 on Wednesday.