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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.
Photograph: Danish Siddiqui/Reuters
On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 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.
According to the block deal data available on the National Stock Exchange (NSE), M&M offloaded 2.11 crore (2,11,43,000) shares or a 3.45 per cent stake in RBL Bank.
The transaction was valued around Rs 677.95 crore, and was executed at an average price of Rs 320.65 apiece.
At the end of September quarter, M&M held a 3.45 per cent stake in RBL Bank, as per the shareholding data on the BSE.
Meanwhile, Aditya Birla Sun Life Mutual Fund (MF), SBI MF, Kotak Mahindra MF, HSBC MF, HDFC Standard Life Insurance Company, Citigroup Global Markets Mauritius, BofA Securities, Goldman Sachs, Morgan Stanley, Societe Generale and Abu Dhabi Investment Authority were the entities that purchased shares of RBL Bank.
Shares of RBL Bank rose 0.51 per cent to close at Rs 325.50 apiece on the NSE.
On Wednesday, RBL Bank reported a 16 per cent rise in its net profit to Rs 160 crore for the second quarter ended September 2025.
The private sector lender had recorded a net profit of Rs 138 crore in the same quarter a year ago.
Its total income increased to Rs 1,458 crore during the quarter under review from Rs 1,064 crore in the same period of the last year, RBL Bank said in a regulatory filing.
