CDC Group sells part of Ujji­van Fi­nan­cial Ser­vices stake

Mint ST - - CORPORATE - BY SNEH SUSMIT sneh.s@livemint.com MUM­BAI

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.

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