Canara Bank has informed the exchanges that it has shelved its plan to pursue strategic sale of its stake in Canara Robeco Asset Management Company, a subsidiary of Canara Bank. The bank said it has taken this step in view of the tremendous growth opportunities offered by the mutual fund industry in the current growth phase of the bank. Shares of Canara Bank closed the day at ₹360.90, nearly unchanged from the previous close of ₹360.95.
Spice Mobility has informed the exchanges that Spice Digital (SDL), a subsidiary of Spice Mobility, has entered into an agreement with Luharia Technologies Private Ltd (LTPL), a P2P lending platform ,for making a strategic investment in LTPL. SDL will invest in 0.1 per cent compulsorily convertible preference shares (CCPS) of LTPL, which will result in a minimum shareholding of 30 per cent of the issued and paid-up equity share capital base of LTPL upon conversion of the CCPS into equity shares of LTPL. Shares of Spice Mobility closed the day at ₹24, up 1.69 per cent, or ₹0.40, from its closing on the previous day.