Auto major Mahindra & Mahindra (M&M) is likely to sell its entire 3.45 per cent stake in RBL Bank in a clean-up trade through a block deal amounting to ₹682 crore, sources say.

The floor price for the deal has been set at ₹317 per share, at around 2 per cent discount to current share price of the bank. The deal will be executed on November 6. Kotak Securities is the broker for the deal, according to sources.

M&M had, in 2023, picked up 3.53 per cent stake in RBL Bank for ₹417 crore, translating to 64 per cent return on investment after closure of the transaction. The auto-maker did not immediately respond to queries sent by businessline .

Last month, the Board of Directors of Emirates NBD Bank and RBL Bank approved signing definitive agreements for ENBD to acquire 60 per cent stake in

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