SBI Life Buys 1M Shares in Can Fin Homes, Securing 0.75% Stake

23 Jul 2024 , 01:57 PM

On July 22, 2024, SBI Life Insurance Company Ltd acquired 1 million shares of Can Fin Homes Ltd at a price of ₹827.94 per share.

This acquisition represents a 0.75% ownership stake in Can Fin Homes Ltd. Canara Bank, which is the promoter of Can Fin Homes, holds a significant 29.99% stake in the housing finance company.

At the time of writing on July 23, 2024 at 1:52 pm, shares of Can Fin Homes is currently trading at Rs 832 which is a 1.57% dip than the previous close. In the last one year, shares of Can Fin Homes has witnessed a 6% dip , whereas since the beginning of the year, the shares has seen a 7% surge.

Can Fin Homes Ltd is engaged in the housing finance industry and boasts an extensive network across India, including 172 branches, 21 Affordable Housing Loan Centres (AHLCs), and 12 satellite offices located in 21 states.

SBI Life Insurance Company Ltd is a major Indian life insurance provider, established as a joint venture between the State Bank of India (SBI) and the French financial institution BNP Paribas Cardif.

Can Fin Homes Ltd, operational since 1987, is a prominent housing finance solution provider in India. It stands out as the first housing loan solution provider backed by a nationalized bank, specifically Canara Bank.