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IndusInd Bank sells entire 2.86% stake in Nippon Life India Asset Management

21 Dec 2023 Evaluate

IndusInd Bank has sold its entire 2.86% stake in Nippon Life India Asset Management for Rs 795 crore through open market transactions. SBI Mutual Fund (MF), ICICI Prudential MF, Bajaj Allianz Life Insurance, ICICI Prudential Asset Management Company, Societe Generale and Morgan Stanley Asia Singapore, were among the buyers.

Through 13 tranches, IndusInd Bank offloaded 1,78,57,355 shares, in Nippon Life India Asset Management. The shares were disposed of at an average price of Rs 445.35 per piece. 

IndusInd Bank is one of the fastest-growing banks in the banking sector in India.


Peers
Company Name CMP
HDFC Bank 719.35
ICICI Bank 1305.50
Axis Bank 1214.00
Kotak Mahindra Bank 419.80
Indusind Bank 880.00
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