Housing Development Finance Corporation zooms on completing sale of 10% stake in HDFC Capital Advisors

Housing Development Finance Corporation is currently trading at Rs. 2284.60, up by 47.20 points or 2.11% from its previous closing of Rs. 2237.40 on the BSE.

hdfc hdfc bank set to merge
hdfc hdfc bank set to merge

The scrip opened at Rs. 2243.00 and has touched a high and low of Rs. 2301.00 and Rs. 2239.95 respectively. So far 96752 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 3021.10 on 15-Nov-2021 and a 52 week low of Rs. 2046.30 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 2301.00 and Rs. 2152.75 respectively. The current market cap of the company is Rs. 414682.99 crore.

The Institutions and Non-Institutions held 88.32% and 11.69%, stake in the company respectively.

Housing Development Finance Corporation (HDFC) has completed sale of 2,35,019 equity shares of Rs 10 each of HDFC Capital Advisors (HCAL) representing 10% of its fully diluted paid-up share capital, to a wholly owned subsidiary of Abu Dhabi Investment Authority, at a price of Rs 7,841.49 per equity share, aggregating to a consideration of Rs 184.29 crore.

Pursuant to the above sale, HCAL has ceased to be a wholly owned subsidiary however continues to be a subsidiary of the Corporation.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting.

he financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

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