Home / Markets / Stock Markets /  CDC Group sells 3.7% stake in Equitas Holdings worth 104 crore

Mumbai: CDC Group Plc, the development finance institution owned by the UK government, on Wednesday sold 8 million shares or 3.7% stake in Equitas Holdings Ltd for around Rs104 crore through an open market transaction.

According to the data from stock exchanges, CDC Group PLC sold 8 million shares of Equitas Holdings at an average price of 130 per share, aggregating to 104 crore on the exchanges.

Before the sale of shares, CDC Group held 5.23% stake in Equitas Holdings, equivalent to 17.86 million equity shares. Hence, the total shareholding of the U.K.’s development finance institution to come down to 2.89%, equivalent to 9.86 million equity shares.

Equitas Holdings reported a multifold jump in its consolidated net profit at 85.77 crore for the quarter-ended March 2021 against a net profit of 14.59 crore in the corresponding quarter of the previous financial year 2019-20. Total income gained 20.28% to 947.66 crore for the March 2021 quarter over 787.90 crore for the same quarter last year.

From the beginning of the year, shares of Equitas Holdings gained 90.34% against a rise of 9.56% in the benchmark index, Sensex.

Shares of Equitas Holdings on Wednesday lost 1.70% to close at 130 apiece on the BSE, while the benchmark index, Sensex lost 0.26% to close at 52,443.71 points.

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