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MIT sells SCUF’s 8.37 lakh shares for Rs 150 crore

26 Dec 2014 Evaluate

US-based educational institution Massachusetts Institute of Technology (MIT) has sold Rs 149.5 crore worth of equity shares in Shriram City Union Finance (SCUF), which was acquired by ABG Capital.

Massachusetts Institute of Technology has sold 8,37,307 shares in the company for Rs 1,786 per share. It has been holding 8,46,543 equity shares as on September 30, 2014, which was around 1.28% of the total shares in the company.

Earlier reports suggest that the institute has acquired 5,99,943 shares in SCUF for Rs 984 per share, aggregating to Rs 59 crore, during July, 2013. During the time, IIFL has sold around 4.80 lakh shares of SCUF for Rs 47.23 crore.

Shriram City Union Finance has presence in the following business segments - loan Against Gold (LAG), Small Business Finance Loans (SBF), Auto Loans, 2-Wheeler loans, Personal Loans and Consumer Durables Loans.

Shriram City Union Share Price

1923.55 0.00 (0.00%)
28-Nov-2022 18:01 View Price Chart
Peers
Company Name CMP
Bajaj Finance 1068.50
Shriram Finance 1061.80
Aditya Birla Capital 409.20
Chola Invest & Fin. 1757.95
Tata Capital 349.80
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