The RBL share price jumped over 2% in early trade. This is after Mahindra & Mahindra sold its entire 3.53% stake in RBL Bank for Rs 678 crore. The sale represents a 62.5% gain on M&M’s initial investment. The company had acquired the stake as a treasury investment in July 2023 for Rs 417 crore. The M&M shares are trading .15% higher.

“We refer to our letter dated July 26 2023, wherein the Company has informed about acquisition of 3.53% stake in RBL Bank as a treasury investment at a cost of Rs. 417 Crores. 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 Rs. 678 Crores representing a 62.5% gain on the investment,” the company stated in a BSE filing.

At the time of the acquisition, CEO Anish Sh

See Full Page