Mahindra & Mahindra (M&M) is set to sell its entire 3.45% stake in RBL Bank through a block deal worth ₹682 crore, sources told CNBC-TV18.

The floor price for the block has been fixed at ₹317 per share which is a discount of around 2.1% to the bank’s current market price.

With this, M&M pockets a whopping 64% return on ₹417 crore investment made in July 2023 when it picked a minority stake in the bank for ₹197 per share.

The move marks the automaker’s complete exit from the private lender after little over a year of investment.

That the automaker had no intention of investing further in the bank was made clear in August 2023, M&M's Managing Director and CEO Anish Shah addressed the media just a month after picking the stakes in RBL Bank.

"There is no intention of going further at

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