Markets

Canara Bank calls off arm stake sale

Our Bureau Mumbai | Updated on January 14, 2020 Published on January 14, 2020

Canara Bank has decided to call-off the divestment process of its entire stake in CanFin Homes Ltd (CFHL). Last year, the public sector bank had sought expression of interest of bidders/investors through duly appointed merchant bankers to purchase 3,99,30,365 equity shares of the face value of ₹2 each constituting 29.99 per cent of the paid-up capital held by the bank in CanFin Homes.

In 2018 also, Canara Bank decided to call of the divestment process of its entire stake in CFHL, which was then in progress, as the quote received was not in tune with the valuation. CanFin Homes has a pan India network of 132 branches, 20 affordable housing loan centres and 20 satellite offices. Our Bureau

Published on January 14, 2020
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