Housing finance main HDFC Ltd on Friday divested a bit of over 3 per cent stake in Bandhan Financial institution, garnering Rs 1,522 crore, by way of an open market transaction.
The transaction comes days after HDFC introduced a mega-merger with its banking arm HDFC Financial institution.
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In keeping with bulk deal information obtainable with the BSE, Housing Growth Finance Company (HDFC) bought a complete of 4,96,32,349 shares, amounting to three.08 per cent stake, of Bandhan Financial institution.
The shares had been offloaded at a median worth of Rs 306.61 apiece, valuing the transaction at Rs 1,521.77 crore.
HDFC, a public shareholder in Bandhan Financial institution, held 9.89 per cent stake within the non-public lender on the finish of the December quarter, shareholding information with the trade confirmed.
In the meantime, Societe Generale picked up over 1.9 crore shares of the financial institution for Rs 306.55 per piece at an estimated Rs 585 crore.
The scrip of Bandhan Financial institution closed 2.60 per cent increased at Rs 323.75 on the BSE.
