 "Housing finance major HDFC pares 3% stake in Bandhan Bank for Rs 1,521 cr")
Housing finance major HDFC Ltd on Friday divested a little over 3 per cent stake in Bandhan Bank, garnering Rs 1,522 crore, through an open market transaction.
The transaction comes days after HDFC announced a mega merger with its banking arm HDFC Bank.
According to bulk deal data available with the BSE, Housing Development Finance Corporation (HDFC) sold a total of 4,96,32,349 shares, amounting to 3.08 per cent stake, of Bandhan Bank.
The shares were offloaded at an average price of Rs 306.61 apiece, valuing the transaction at Rs 1,521.77 crore.
HDFC, a public shareholder in Bandhan Bank, held 9.89 per cent stake in the private lender at the end of the December quarter, shareholding data with the exchange showed.
Meanwhile, Societe Generale picked up over 1.9 crore shares of the bank for Rs 306.55 per piece at an estimated Rs 585 crore.
The scrip of Bandhan Bank closed 2.60 per cent higher at Rs 323.75 on the BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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