Bombay: Private equity investor Warburg Pincus on Friday sold 4.47% stake in AU Small Finance ₹1247.69 crore, through open market transactions.
Data on available block deals with BSE showed Redwood Investment Ltd, an entity owned by Warburg Pincus, sold 13.70 million shares, or 4.47% of the bank’s capital. The shares were sold at an average price of ₹910.55, valuation of transactions at ₹1248 crore.
Westbridge AIF I bought 5.95 million shares of the bank for ₹542 crore.
According to the latest shareholding model available on the stock exchange, Warburg Pincus held 4.58% of the bank.
In July of this year, Warburg Pincus had sold 6.92 million shares, or 2.26% of the stake in AU Small Finance Bank at an average price of ₹746.40, aggregated at ₹517 crore
Previously, in August 2018, Warburg Pincus had sold 2.40 crore shares, or 8.27% of the bank’s capital at an average price of ₹638, valuing transactions at ₹1,531.20 crore.
UA Small Finance Bank announced an 87.2% increase in net income to ₹322 crore for the second quarter of fiscal year 2020-2021. The bank had reported a net profit of ₹172 crore in the July-September period of 2019-20. Total income increased by 27% for ₹1498.15 crore in the second quarter of 2020-2021 compared to ₹1,184.21 crore in the same time last year, he said in a regulatory filing.
AU Small Finance Bank closed at ₹708.80, down 4.95% from the previous close, while the benchmark, Sensex, gained 0.15% to 46,960.69 points.