CDC Group, the UK government’s development finance institution has offloaded nearly 5% stake in Ujjivan Financial Services for more than Rs 212 crore, through an open market transaction. CDC Group sold 59 lakh shares, amounting to 4.93 percent stake, of Ujjivan Financial Services. The shares were disposed of at an average price of Rs 360 a piece, valuing the transaction at Rs 212.40 crore. The shares were bought by Cinnamon Capital.
Ujjivan Financial Services is a non-banking finance company engaged in the micro finance lending business. The Company's products and services include Microfinance, Micro and Small Enterprise Business (MSE) Finance, Agriculture and Animal Husbandry Finance, and Housing Finance.
