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Canara Bank sells over Rs 11.54-cr shares in CARE rating

Canara Bank

New Delhi: State-run Canara Bank has sold shares worth Rs 11.54 crore in Credit Analysis and Research Limited (CARE), a domestic rating agency.

The stake sale of 0.258 per cent, or 74,955 shares, in the rating agency fetched the Bengaluru-based lender Rs 11.54 crore, Canara Bank said in a filing to the BSE.

Following the stake sale in the rating agency, the bank’s shareholding came down to 10.3 per cent from the earlier 10.5 per cent.

Post announcement, Canara Bank’s shares went down by 0.05 per cent to Rs 397.85 apiece on the BSE, whereas CARE’s scrip fell by 0.95 per cent to Rs 1,519 per unit.

CARE Ratings commenced operations in April 1993.

In over nearly two decades, it has established itself as a premier credit rating agency in India.

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