Promoters cut their holding in HDFC Bank

Overall stake declines by 32 bps in FY13

Promoters of HDFC Bank, India's second largest private lender, have cut their holding by 11 basis points (bps)  during the January-March quarter.

As per the latest statistics available from the BSE, shareholding of promoters in HDFC Bank stood at 22.83% as on 31 March, 2013 against 22.94% at the end of the immediate preceding quarter.

Promoters' holding in the bank has been declining for several quarters now. For instance, in the overall FY13, the shareholding pattern suggest that promoter group has cut their stake by 32 bps to sub-23% level.

Meanwhile, Foreign Institutional Investors (FIIs) scaled up their holdings by 41 bps in the March quater, whereas in the whole financial year, foreign investors took their stake up by 3.39% to 34.07%.

On the other hand Domestic Institutional Investors (DIIs) cut their stake by 36 bps during the quarter pushing their overall holding down to 8.59% - a reduction of 191 bps against what it stood as on March, 2012.

Shares of the lender were trading firm at Rs 625, up 0.72% at IST 1305.