IFC sells stakes worth Rs 85 cr in Cholamandalam Investments

Puts almost 3 million shares on the block

International Finance Corporation (IFC) reduced its stake in Cholamandalam Investment and Finance Company Ltd, the NBFC arm of Murugappa Group.

According to Bulk deals data, IFC sold 29,57,838 shares at Rs 287 a share, which translates to around Rs 84.88 crore.

According to BSE's shareholding pattern, IFC was holding 8.26 per cent in the company and number of shares held was 1,18,31,352 shares in the company.