Mahindra and Mahindra (M&M) Ltd. sold its entire stake in RBL Bank Ltd. via a block deal in the pre-market window on Thursday, November 6, confirming CNBC-TV18's newsbreak regarding the same.

M&M, in an exchange filing, said it has sold its entire stake in the lender for ₹678 crore, representing a 62.5% gain on its investment.

On Wednesday , CNBC-TV18 reported, citing sources, that Mahindra & Mahindra (M&M) was to sell its entire 3.45% stake in the lender for ₹682 crore via a block deal.

As many as 2.11 crore shares or 3.45% of the company's outstanding equity changed hands as part of the block deal. Price of the transaction is said to be ₹321 per share. The floor price was said to be at ₹317 per share, sources said.

With this transaction, M&M has earned a 64% return on its ₹417 cror

See Full Page