Canara Bank has sold shares worth Rs 11.54 crore in Credit Analysis and Research (CARE), a domestic rating agency. The stake sale of 0.258%, or 74,955 shares, in the rating agency fetched the Bengaluru-based lender Rs 11.54 crore.
Following the stake sale in the rating agency, the bank's shareholding came down to 10.3% from the earlier 10.5%.
CARE is a second largest full service credit rating company in India, offering rating and grading services across a diverse range of instruments and industries including IPO grading, equity grading, and grading of various types of enterprises, including shipyards, maritime training institutes, construction companies and rating of real estate projects, among others.
