Advertisement

Business

Updated on: Tuesday, August 24, 2021, 08:47 PM IST

HDFC Bank divests over 2% stake in CDSL for Rs 223 cr in tranches during June-August

PTI
HDFC Bank sold 23,11,000 equity shares of face value of Rs 10 each fully paid-up held by the bank in CDSL through the secondary market route on the NSE/ Representational image |

HDFC Bank sold 23,11,000 equity shares of face value of Rs 10 each fully paid-up held by the bank in CDSL through the secondary market route on the NSE/ Representational image |

Advertisement

HDFC Bank has divested more than 2 per cent stake in Central Depository Services (India) Ltd (CDSL) in tranches during June-August this year, garnering nearly Rs 223 crore from the sale, according to a regulatory filing.

HDFC Bank sold 23,11,000 equity shares of face value of Rs 10 each fully paid-up held by the bank in CDSL through the secondary market route on the NSE, the private bank said in the regulatory filing.

The divestment of 2.21 per cent stake in Central Depository Services (India) Ltd took place over a period from June 22 to August 24, 2021.

The bank sold 20,36,000 shares (1.95 per cent) of CDSL at an average price of Rs 937.46 per piece on June 22. On August 23, it sold 2,13,481 shares at Rs 1,168.94 apiece and on August 24, it sold 61,519 shares for Rs 1,119.31 apiece.

The shares were sold for a cash consideration of Rs 222.71 crore, HDFC Bank said.

CDSL provides depository services to market participants. It has three operating services: depository, data entry and record keeping of KYC documents of capital market investors, and repository.

Repository provides policyholders and warehouse receipt holders the facility to keep insurance policies and warehouse receipts in electronic form, as well as to undertake changes, modifications and revisions in it.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Tuesday, August 24, 2021, 08:43 PM IST
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement