State-run lender Canara Bank Ltd has sold a 13.45 per cent stake in Housing finance arm Can Fin Homes Ltd to Singapore-based Caladium Investment Pvt Ltd for Rs 754 crore, it said on Friday.
The divestment is seen as a part of the monetization process of non-core assets of Canara Bank, the company said in a statement to the exchanges.
Caladium Investment, which is an affilate of Singapore's sovereign wealth fund GIC, will buy about 3.6 million Can Fin Homes' shares at Rs 2,105 each, a premium of about 8.4 per cent, as of Thursday's close.
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