India, Nov. 6 -- Mahindra & Mahindra (M&M) has sold its entire 3.53% stake in RBL Bank for ?678 crore, delivering a 62.5% return on its investment.
The company had originally acquired the stake on July 26, 2023, as a treasury investment for Rs 417 crore. In a regulatory filing, M&M confirmed the stake sale, stating that the exit generated a significant gain within a little over a year.
"With this transaction, the company has realised Rs 678 crore, reflecting a 62.5% gain on the investment," the filing said.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....