Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 % stake in RBL Bank for ₹ 678 crore representing a 62.5 % gain on the investment.
On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of 3.53 % stake in RBL Bank as a treasury investment at a cost of ₹ 417 crore.
"In furtherance to above, we would like to inform you that the company has today sold its entire stake in RBL Bank for a consideration of ₹ 678 crore representing a 62.5 % gain on the investment," M&M said in a regulatory filing.
The company's shares were trading 1.13 % up at ₹ 3,621.95 apiece on BSE.
