New Delhi, Nov 6 (PTI) Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore representing a 62.5 per cent gain on the investment.

On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore.

“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 crore representing a 62.5 per cent gain on the investment," M&M said in a regulatory filing.

The company’s shares were trading 1.13 per cent up at Rs 3,621.95 apiece on BSE. PTI MSS ANU ANU (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI )

See Full Page