Private equity investor Warburg Pincus on Thursday sold 2.26% stake in AU Small Finance Bank for ₹516.74 crore, through open market transactions.
The block deal data available with the BSE showed that Redwood Investment Ltd, an entity owned by Warburg Pincus, disposed off 6.92 million shares, or 2.26% stake in the bank. The shares were sold at an average price of ₹746.40, valuing the transactions at ₹517 crore.
Among the buyers of the shares were Westbridge AIF I, Abu Dhabi Investment Authority, Reliance Mutual Fund and Morgan Stanley Asia Singapore PTE.
According to the latest shareholding pattern available on the stock exchange, Warburg Pincus held 6.84% in the bank.
Previously in August 2018, Warburg Pincus had sold 2.40 crore shares, or 8.27% stake in the bank at an average price of ₹638, valuing the transactions at ₹1,531.20 crore.
AU Small Finance Bank reported a 5.5% rise in net profit at ₹201 crore for the first quarter of 2020-21 financial year. The bank had reported a net profit of ₹190 crore in the April-June period of 2019-20. Total income increased by 21% to ₹1409.91 crore in the first quarter of 2020-21 compared to ₹1168.33 crore in the same period of last year, it said in a regulatory filing.
Gross NPA stood at 1.69% as on 30 June 2020 against 2.08% by same period of 2019.
AU Small Finance Bank settled for the day on the BSE at ₹708.80, down 4.95% from the previous close.
