NBFC-giant HDFC offloads greater than 3% stake in Bandhan Financial institution by means of a block deal within the secondary market on Friday.
Block deal knowledge on BSE confirmed that HDFC bought a complete of 49,632,349 fairness shares or 3.08% in Bandhan Financial institution at ₹306.61 apiece. That stated, the divestment aggregated to almost ₹1,522 crore.
In its regulatory submitting on BSE immediately, HDFC stated, “We now want to inform you that out of the above-mentioned shares, the Company has bought 7,96,32,349 fairness shares representing 4.94% of the paid-up share capital of Bandhan, which incorporates the sale of 4,96,32,349 fairness shares representing 3.08% of the paid-up share capital of Bandhan accomplished on April 8, 2022.”
In October 2019, HDFC acquired 15,93,63,149 fairness shares or 9.898% of paid-up share capital in Bandhan Financial institution. HDFC acquired these shares from Bandhan on account of the merger of GRUH Finance with Bandhan and in step with the share change ratio talked about within the scheme of merger.
Nevertheless, publish the block deal, HDFC now holds 4.95% of the paid-up share capital of Bandhan.
Alternatively, in immediately’s block deal on BSE, French multinational funding financial institution, Societe Generale picked up 19,081,469 fairness shares at ₹306.55 apiece – taking the consideration to almost ₹585 crore.
On BSE, Bandhan Financial institution shares closed at ₹323.75 apiece up by 2.60%, whereas HDFC settled at ₹2458.10 apiece marginally down from the earlier closing.
Supply: Live Mint