India's Canara Bank is seeking bidders for the sale of its entire 29.99% stake in local housing finance institution Can Fin Homes Ltd.
The bank is looking to sell 39,930,365 Can Fin Homes equity shares, according to a Sept. 9 stock exchange filing.
The invitation to bid comes after the Indian government decided to merge Canara Bank and Syndicate Bank Ltd. into one entity as part of a wider consolidation among public sector banks.
As of Sept. 6, US$1 was equivalent to 71.52 Indian rupees.
