Sundaram Finance (SFL) has informed the BSE that the company has sold its entire holdings of 6.25 lakh equity shares of Rs. 10 each in Credit Information Bureau (India) Limited to TransUnion International of the U.S.
TransUnion, which specialises in analytics and information management, has been active in the Indian marketplace as the technical partner and a shareholder in CIBIL, the first credit bureau in India. TransUnion has been increasing its stake in CIBIL gradually since the Reserve Bank of India raised FDI (foreign direct investment) cap from 49 per cent to 74 per cent in credit information companies. TransUnion had secured a majority stake in CIBIL raising its holding to 55 per cent from 47.5 per cent.
Shares of Sundaram Finance gained 5.25 per cent to close at Rs. 816.55 on the BSE on Thursday.
