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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. 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. (This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by Times Now.) Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world.
