HDFC sells further 4.22% stake in Gruh for Rs 899 crore
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HDFC had sold 6.10 per cent stake Gruh earlier in May for Rs 1,327.89 crore, which was also the part of the RBI requirement of bringing down the holding in the subsidiary firm for the proposed merger into Bandhan Bank. Stock of HDFC traded 0.69 per cent down at Rs 2,181.80 on BSE, while Gruh slipped 5.66 per cent to Rs 291.05 apiece.
NEW DELHI: Mortgage lender HDFC on Friday said it has sold over 4.22 per cent stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs 899.43 crore.
The Gruh finance stake sale earned hdfc Rs 899.43 crore. In May, HDFC sold 6.1 percent stake in Gruh Finance for Rs 1,327.89 crore to meet the RBI directive. On Friday, HDFC shares fell 0.97 percent to Rs 2,175.75 crore apiece on the BSE while Gruh Finance’s shed 5.40 percent to Rs 291.85.
HDFC sells further 4.22% stake in Gruh Finance for Rs 899 crore. mortgage lender hdfc Friday said it has sold over 4.22 per cent stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs 899.43 crore.
– HDFC sells further 4.22% stake in Gruh Finance for Rs 899 crore The sale of 3,10,00,000 equity shares representing 4.22 of the issued and paid-up share capital of Gruh was carried out through stock exchanges at the prevailing market price, HDFC said in a regulatory filing.
HDFC sells further 4.22% stake in Gruh for Rs 899 crore (Representational Image) | Photo Credit: PTI New delhi: mortgage lender hdfc friday said it has sold over 4.22 per cent stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs 899.43 crore.
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NEW DELHI: Mortgage lender HDFC Friday said it has sold over 4.22% stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for 899.43 crore. The sale.
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Mortgage lender HDFC has sold over 4.22% stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for 899.43 crore. post the completion of the aforesaid sale of shares, Gruh would cease to be a subsidiary of the Corporation. Gruh is engaged in the business of providing home loans and is registered with the National Housing Bank as a housing finance.