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HDFC concludes sale of about 23% stake in HDFC ERGO General Insurance Company

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now holds 50.73% stake in ERGO

Housing Development Finance Corporation has concluded the transfer of 12,33,57,262 equity shares of Rs 10 each of ERGO General Company, a subsidiary of the Corporation representing 22.902% of HDFC ERGO's paid up capital to ERGO International AG, Dusseldorf at a price of Rs 90.973 per equity share, aggregating to a consideration of Rs 1122 crore.

As a result of the sale of shares, the Corporation's holding in HDFC ERGO now stands at 50.73%, while ERGO's share is 48.74%.

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First Published: Fri, June 03 2016. 19:24 IST