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Mahindra and Mahindra (M&M) has sold its entire stake in private lender RBL Bank for Rs 678 crore
There is no plan for a demerger of the auto and tractor businesses, says M&M.
Mahindra and Mahindra (M&M) has sold its entire stake in private lender RBL Bank for Rs 678 crore, the automaker said in an exchange filing on Thursday, November 6.
The company had acquired a 3.53% stake in RBL Bank as a treasury investment in 2023 for Rs 417 crore. According to M&M, the sale of its stake has generated a 62.5% gain on the original investment.
“We refer to our letter dated July 26, 2023, wherein the Company informed about the acquisition of a 3.53% stake in RBL Bank as a treasury investment at a cost of Rs 417 crore. In furtherance to the above, we would like to inform you that the Company has today sold its entire stake in RBL Bank for a consideration of Rs 678 crore, representing a 62.5% gain on the investment,” the company said in its filing.
Mahindra and Mahindra share price
Shares of M&M rose 1.44% to Rs 3,633 apiece around 10:12 am on Thursday. The stock opened at Rs 3,603.45 on the BSE.
The divestment comes shortly after RBL Bank announced that Emirates NBD plans to acquire a majority stake in the lender for $3 billion (approximately Rs 26,850 crore), marking the largest-ever foreign direct investment and equity fundraise in India’s banking sector. The move follows the Reserve Bank of India’s in-principle approval for the Dubai-based bank to set up a wholly owned subsidiary in India.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 06, 2025, 11:01 IST
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