Canara Bank will sell 30% of its stake in Can Fin Homes. News reports suggested that the sale in nearing completion and the deal is at Rs 450 per share against current market price of Rs 415. Several private equity players are in vying to buy the shares. The bank had invited bids for the stake in September. Can Fin Homes has an all-India presence and has some 160 branches besides affordable housing loan centers and satellite offices. The bank had earlier tried to sell the entire subsidiary, but it called off the attempt as the response was not good.
