Sunday, 18 June 2017

Sura Chawla sells stake in CSB

Non-resident Indian Sura Chansri Chawla is reported to have struck a deal with the Bhansalis of Enam group to sell the entire remaining part his stake in Thrissur-based Catholic Syrian Bank Ltd. (CSB).

The sale is believed to have been done at a price of about ₹160 a share.

The NRI, it is gleaned from reliable sources, has sold close to 5% of his holding in the bank.

When contacted, former chairman of the bank S. Sananthanakrishnan confirmed that the deal had indeed taken place.

Queried on the exact sale price, he, however, said he would not hazard any guess,

Sources indicated that the reported sale price of Rs. 160 a share would definitely set the bench-mark for any future sale of the bank shares.

The deal comes at a time when Fairfax was widely reported to be contemplating equity stake in the Thirusur-based private sector bank.

Sandip Ginodia , Director 

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