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Canara Bank to sell stake in CARE

Canara Bank is selling around 9% stake in holds in the credit ratings firm CARE. The sale may bring Rs 393 crore to the bank. The bank said in its offer notification that is proposing to sell 26,22,430 equity share of Credit Analysis and Research comprising of 8.90% of the total paid up equity share capital of the company with a floor price of Rs 1500 per share. The minimum lot size of the bid is one lakh shares, the bank said. The bank intends to complete the sale proceedings by 30 June.

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