Ashok Leyland sells 50 lakh IndusInd shares for Rs 216 cr

The shares were acquired by an entity named Afrin Dia, according to the block deal data with the stock exchanges.

Updated: Mar 15, 2013, 22:33 PM IST

Mumbai: Commercial vehicles maker Ashok Leyland Friday sold 50 lakh shares of private lender IndusInd Bank in a transaction worth over Rs 216 crore.

The shares were acquired by an entity named Afrin Dia, according to the block deal data with the stock exchanges.

IndusInd shares were sold at an average price of Rs 432.5 apiece, aggregating to a total amount of Rs 216.25 crore.

At the end of December quarter, Hinduja group firm Ashok Leyland held 1.80 crore shares in the bank representing 3.45 percent stake.

In the same period, Afrin Dia held 79 lakh shares amounting to 1.51 percent stake in the bank.

Shares of IndusInd slipped 2.02 percent to close at Rs 422 apiece on the BSE.

PTI