IDFC First Bank sells entire 8.37% stake in ARCIL

IDFC First Bank has sold its entire stake of 8.73% in Asset Reconstruction Company (India) Ltd, the bank said in the BSE filing. The announcement was made on Wednesday, March 20 after market hours.

“The bank has sold the entire stake of 2.71cr equity shares of Rs10 each comprising approximately 8.37% of the Share Capital of Asset Reconstruction Company (India) Limited (Arcil) pursuant to Share Purchase Agreement,” the bank said.

The share price of IDFC First Bank Ltd ended on Wednesday at Rs52.30, down by Rs0.3 or 0.57% from its previous closing of Rs52.60 on the BSE. The scrip opened at Rs52.75 and touched a high and low of Rs52.85 and Rs51.65 respectively.