Canara Bank to dilute 13.45 per cent stake

Canara Bank to dilute 13.45 per cent stake
15/02/2017 , by , in ALLIED

Housing finance firm CanFin Homes said its promoter Canara Bank will divest up to 13.45 per cent stake in the company by the end of next month.

“Canara Bank has informed the company that they have intimated RBI about their proposal to dilute their stake to 30 per cent by March 31, 2017,” CanFin Homes Ltd said in a BSE filing.

“The Bank has also informed the company that based on the acceptability of the prospective investors, final decision to divest the promoter’s stake up to 13.45 per cent to the investors would be taken by their Board in due course,” it added.

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