HDFC to divest 0.62% stakeholding in HDFC ERGO

Image
Capital Market
Last Updated : May 10 2021 | 7:05 PM IST
Housing Development Finance Corporation (HDFC), in accordance with the direction of Reserve Bank of India to reduce its shareholding in HDFC ERGO to 50% or below, has on 08 May 2021 entered into a share purchase agreement for sale of 44,12,000 equity shares of Rs. 10 each, representing 0.62% of the issued and paid-up share capital of HDFC ERGO.

Subsequent to the above sale, HDFC ERGO would cease to be a subsidiary company of HDFC under the provisions of the Companies Act, 2013.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 10 2021 | 6:50 PM IST

Next Story