CLSA Global Markets sells IDFC Bank shares worth Rs 208 cr

CLSA Global Markets Pte today offloaded over 4.40 crore shares of IDFC Bank for an estimated Rs 208 crore through an open market transaction.
IDFC Bank is one of the latest entrant into the private sector lending space of the country.
According to bulk deal data available with the stock exchanges, CLSA sold a total of 44,037,474 shares, amounting to 1.3 per cent stake, of IDFC Bank.
The shares were offloaded on an average price of Rs 47.16 apiece, valuing the transaction at Rs 207.68 crore.
As on April 16, CLSA held 1.81 per cent stake in the banking entity.

Meanwhile, Platinum Investment Management Ltd picked up 28,913,02 shares of IDFC Bank for Rs 136.35 crore.
Last week, Sun Pharma founder Dilip Shanghvi along with IDFC Bank and Telenor Financial Services dropped plans to set up payments bank in the country, nearly nine months after getting in-principle approval from the Reserve Bank.
Shares of IDFC Bank today closed 0.32 per cent lower at Rs 47 apiece on BSE.