HDFC sells 6.1% in subsidiary Gruh to comply with RBI directive on Bandhan-Gruh merger
The sale was carried out through stock exchanges at the prevailing market price. The average price was Rs 260.07 apiece for shares sold on March 28 and Rs 310.126 apiece for shares sold on Friday (May 24).
- May 24, 2019,
- Updated May 25, 2019 1:00 AM IST
Mortgage lender HDFC has sold 6.10 per cent stake in its subsidiary Gruh Finance, to comply with the RBI requirement for facilitating the proposed merger of the housing finance arm with Bandhan Bank.
The sale was carried out through stock exchanges at the prevailing market price.
The average price was Rs 260.07 apiece for shares sold on March 28 and Rs 310.126 apiece for shares sold on Friday (May 24), HDFC said in a regulatory filing.
The 6.10 per cent stake sold represents 4,47,86,774 equity shares of Gruh.
Mortgage lender HDFC has sold 6.10 per cent stake in its subsidiary Gruh Finance, to comply with the RBI requirement for facilitating the proposed merger of the housing finance arm with Bandhan Bank.
The sale was carried out through stock exchanges at the prevailing market price.
The average price was Rs 260.07 apiece for shares sold on March 28 and Rs 310.126 apiece for shares sold on Friday (May 24), HDFC said in a regulatory filing.
The 6.10 per cent stake sold represents 4,47,86,774 equity shares of Gruh.