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Published on 9/09/2019 4:18:45 PM | Source: Dion Global Solutions Ltd

Can Fin Homes surges 4% as Canara Bank invites bids for stake sale

Posted in Stock On The Move| #Banking Sector #Canara Bank Ltd #Stock On The Move

Shares of Can Fin Homes surged nearly 4 per cent on Monday at the Bombay Stock Exchange after the parent firm Canara Bank invited bids to sell 30 per cent stake in the housing finance company.

Bids have been invited through merchant bankers for sale of 3,99,30,365 equity shares of the face value of Rs 2 each, constituting 29.99 per cent, Canara Bank said on Friday in a regulatory filing.

Following the development, shares of the company gained as much as 3.75 per cent in the intra-day trade at 406.45 a piece on BSE. On NSE, the shares of the company were trading at Rs 401.80 apiece, up by 2.47 per cent. Meanwhile, the BSE Sensex was at 37,124.21, up by 142 points or 0.38 per cent at 15: 05 hours.