Sipadan Investments (Mauritius) Ltd has further reduced its stake in IDFC Ltd from 7.30 per cent to 5.46 per cent through sale of shares in the open market.
According to IDFC’s notification to the exchanges, the sale of shares by Sipadan took place during the December 17, 2020 to January 5, 2021 period.
Last month, IDFC had informed the exchanges that Sipadan had reduced its stake in IDFC to 7.30 per cent from 9.47 per cent through sale of share in the open market.
IDFC operates a, NBFC (non-banking finance company) – Investment Company’, mainly holding investments in IDFC Financial Holding Company Ltd (IDFC FHCL), which is a non-operative financial holding company.
IDFC FHCL, in turn, holds investments in IDFC FIRST Bank and IDFC Asset Management Company.