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SmallCap World Fund divests 1.6% stake in Aavas Financiers for Rs 173 crore

15 Jun 2023 Evaluate

SmallCap World Fund has divested a 1.6 per cent stake in Aavas Financiers for Rs 173 crore through an open market transaction. According to the bulk deal data available with the BSE, SmallCap World Fund Inc offloaded more than 12.84 lakh shares, amounting to a 1.6 per cent stake in Aavas Financiers.

The shares were sold at an average price of Rs 1,349.94 apiece, taking the deal value to Rs 173.43 crore. Post the latest transaction, SmallCap World Fund's shareholding has been reduced to 6.39 per cent from the 7.99 per cent stake at the end of March.

Aavas Financiers is a retail, affordable housing finance company, primarily serving low and middle income self-employed customers in semi-urban and rural areas in India.


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