1 Apr 2022 , 01:13 PM
Earlier in February 2022, the bank informed investors of its consideration of the sale of a 21% stake in IndiaFirst Life Insurance Company for a consideration of Rs766.30 crore. The company decided to shed off 13,93,26,923 shares at Rs55 per share.
This divestment was in terms of the directives of IRDAI to bring down the Bank’s stake in IFLIC below 10%.
Post completion of this divestment, the shareholding of Bank in IFLIC stood at 9%.
This stake was sold to the Bank of Baroda, which was one of the existing stakeholders in IFLIC.
Union Bank’s stock was trading at Rs40.05, up by 3.35% against its previous close of Rs38.75 on BSE. It touched an intraday high and low of Rs40.20 and Rs38.50 respectively.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.