Ashok Leyland sells IndusInd Bank shares worth Rs 75 crore

Commercial vehicle major Ashok Leyland has offloaded 18 lakh shares of private lender IndusInd Bank for Rs 75 crore.

Ashok Leyland sold 18 lakh IndusInd Bank shares to CPCI Mauritius at an average price of Rs 417, valuing the transaction at Rs 75.06 crore, according to block deal data from the BSE.

Before this, Hinduja group firm Ashok Leyland had offloaded 50 lakh shares of IndusInd Bank in a transaction worth more than Rs 216 crore in the month of March. The shares were bought by Afrin Dia, a foreign institutional investor.

As of September quarter, Ashok Leyland held 1.30 crore shares, amounting to a 2.48 per cent stake, in the bank.

Shares in IndusInd Bank, on Tuesday, ended at Rs 415.40 apiece on the BSE, down 0.22 per cent from the previous close.