CLSA (Mauritius) Ltd has off-loaded over 51.28 lakh shares of SKS Microfinance Ltd bringing its stake from 8.77 per cent to 4.04 per cent.
The sale was conducted in the open market on September 19, 2013, the BSE was informed on Thursday.
It may be recalled that early this month, Sequoia Capital India Growth Investments has sold 15 lakh shares, trimming its stake in the company from 3.8 per cent to 2.41 per cent while SKS founder and ex-chairman, Vikram Akula, had sold over 9 lakh shares.
The SKS Trusts, the original promoter of the SKS Microfinance Ltd, has become the largest shareholder in the company by increasing its stake to 12.60 per cent.
It subsequently asked the company to nominate Akula as its nominee on the board as the largest shareholder and the issue has not been settled yet.
SKS scrip declined 0.50 per cent on the BSE on Thursday to end at Rs 129.45.