The board of Sundaram Finance Holdings Limited has already approved the share sale.
The sale is being done through off-market transaction.
The sale is being done at a price of Rs. 6.32 per share aggregating to Rs.24,64,80,000.
The proposed transaction is likely to be completed by end of December.
Upon completion of the transaction, Sundaram Composite Structures Private Limited will cease to be an associate company of SFHL.
In a filing with the National Stock Exchange, SFHL said that the share sale was to a related party.
