<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/canara-bank" target="_blank">Canara Bank</a> said on Friday that it had sold a 13.45% stake in its subsidiary <a style="color: #000080;" href="http://dealstreetasia.com/tag/can-fin-homes" target="_blank">Can Fin Homes Ltd</a> for Rs 753.77 crore to an affiliate of Singapore’s sovereign wealth fund <a style="color: #000080;" href="http://dealstreetasia.com/tag/gic" target="_blank">GIC Pte Ltd</a>.</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/canara-bank" target="_blank">Canara Bank</a> said on Friday that it had sold a 13.45% stake in its subsidiary <a style="color: #000080;" href="http://dealstreetasia.com/tag/can-fin-homes" target="_blank">Can Fin Homes Ltd</a> for Rs 753.77 crore to an affiliate of Singapore’s sovereign wealth fund <a style="color: #000080;" href="http://dealstreetasia.com/tag/gic" target="_blank">GIC Pte Ltd</a>.
The buyer, <a style="color: #000080;" href="http://dealstreetasia.com/tag/caladium" target="_blank">Caladium Investment Pvt Ltd</a>, bought 35,80,849 shares at Rs 2,105 each in an off-market deal.
The decision to sell the stake in its home loans arm is part of the state-owned bank’s plan to monetise assets that are not core to its main lending business.
In the quarter ended 31 December, Can Fin Homes reported a net profit of Rs 59.6 crore, compared with Rs 42.18 crore a year ago. Revenue rose 24% year-on-year to Rs 349.5 crore in the December.
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<h4 style="text-align: justify;">This article was first published on <a href="http://www.livemint.com/Money/vFGxXDblZ4XJg9ShEtL9VI/Canara-Bank-sells-1345-stake-in-Can-Fin-Homes.html" target="_blank">Livemint.com</a></h4>

Canara Bank said on Friday that it had sold a 13.45% stake in its subsidiary Can Fin Homes Ltd for Rs 753.77 crore to Caladium Investment.

India: Canara Bank sells 13.45% in housing finance arm to GIC affiliate

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India: Canara Bank sells 13.45% in housing finance arm to GIC affiliate

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