The U.K.’s development finance institution CDC Group has pruned its stake in Equitas Holdings Ltd. by 2.61% through sale of more than 89 lakh shares in the open market earlier this week, according to a filing.
“We have on February 25, 2021, sold (in open market) 89,30,410 equity shares of Equitas Holdings Ltd., constituting 2.61% of the paid-up share capital of Equitas Holdings Ltd.,” CDC Group plc said in the filing.
The disclosures are required under SEBI’s regulation on substantial acquisition of shares and takeovers, it added.
Before the sale of shares, CDC Group held 7.84% stake in Equitas Holdings, equivalent to 2,67,91,230 equity shares. Hence, the total shareholding of the U.K.’s development finance institution has now come down to 5.23%, equivalent to 1,78,60,820 equity shares.
CDC Group is a public shareholder in Equitas Holdings, as per BSE data. Equitas Holdings is the promoter of the south-India based Equitas Small Finance Bank.