HDFC says it has sold 4.22% stake in Gruh finance for Rs 899 crore

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HDFC sells further 4.22% stake in Gruh for Rs 899 crore The average price was Rs 290.14 equity share, HDFC said in a regulatory filing.

NEW delhi: mortgage lender hdfc friday said it has sold over 4.22% stake in subsidiary gruh finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for 899.43 crore.

HDFC sells further 4.22% stake in Gruh for Rs 899 crore – The corporation is a shareholder of Gruh is entitled to 14.96% stake post-amalgamation, based on the share exchange ratio

Housing Development Finance Corporation said it has sold 4.2 percent stake in its housing finance unit Gruh Finance at price of Rs 290.14 per share for an aggregate amount of Rs 899.4 crore.. CNBC-TV18 had reported on June 13 that the private lender is looking to sell the stake in the unit to comply with a requirement by the Reserve Bank of India (RBI) to facilitate the latter’s merger with.

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HDFC sells further 4.22% stake in Gruh for Rs 899 crore (Representational Image) | Photo Credit: PTI New Delhi: Mortgage lender HDFC Friday said it has sold over 4.22 per cent stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs 899.43 crore.

Out of 4.47 crore shares sold, 1.22 crore were sold at floor price of Rs 260.07 on March 28 and 3.25 crore shares at Rs 310.126 per share on May 24. Gruh is a deposit-taking housing finance company.

Mortgage lender HDFC on Friday said it has sold over 4.22 per cent stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs 899.43 crore.

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Further 4.22% Stake Sold By HDFC In Gruh Finance June 15, 2019 at 10:03 AM EquityPandit HDFC in a regulatory filing said that the sale of 3.1 crore shares of Gruh was carried out through stock exchanges at the prevailing market price.

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