Mauritius-based investment company divests stake in India's IDFC

Sipadan Investments (Mauritius) Ltd. sold its remaining 5.46% stake in India-based IDFC Ltd. through an open market transaction.

The investment company sold 87,219,567 shares in IDFC, divesting its entire shareholding in the latter.

The move came after Sipadan Investments (Mauritius) sold a 1.83% stake, or 29,274,847 shares, in IDFC, reducing its stake to 5.46% from 7.30%. The shares were sold from Dec. 17, 2020, to Jan. 5 through an open market transaction.