HDFC sells further 4.22 pc stake in Gruh for Rs 899 crore

NEW DELHI, June 14: 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 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. (Current Affairs and GK Questions of 20 th June 2019 ) Mortgage lender HDFC said it has sold over 4.22% stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs. 899.43 crore.

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.

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% Gruh Finance Ltd (Gruh) stake for Rs 899 cr. RBI approves HDFC for holding 9.9 pc stake in Bandhan Bank.. HDFC profit at Rs 2,114 crore in Q3.

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Housing Development Finance Corporation (HDFC) on Friday said that it has sold 3.1 crore shares or 4.22 percent stake in Gruh Finance for Rs 899.43 crore. Shares of Gruh Finance slumped 7.5.

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.

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