Canara Bank said it has sold 13.45% stake in CanFin Homes to Singapore-based Caladium Investment for Rs 753.77 crore in an off-market deal. Caladium Investment is an affiliate of Singapore’s sovereign wealth fund GIC. The bank said Caladium has bought 35.80 lakh CanFin Homes shares at Rs 2105 a share. The bank had 43.45% stake in CanFin Homes. Following, the stake sale, the bank will now hold 30% stake. The bank said this is part of its efforts at monetizing non-core assets. CanFin Homes was established in 1987.
