HDFC Sold 10% Of HCAL Shares To ADIA
HDFC sold 10% of HCAL shares to Abu Dhabi Investment Authority for Rs 184 crore. HDFC has sold a 10 percent stake in HCAL to Abu Dhabi Investment Authority for Rs 184 crore.
The country’s largest lender HDFC Ltd on Thursday said it has sold its 10 percent stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore.
After this deal, HCAL will no longer be a wholly-owned subsidiary of HDFC.
This agreement was done in April.
In April, Housing Development Finance Corporation (HDFC) entered into a share purchase agreement for the sale of 2,35,019 equity shares of HCAL representing 10 percent of the paid-up share capital, to a wholly-owned subsidiary of Abu Dhabi Investment Authority.
HDFC sold 10% of HCAL shares to Abu Dhabi Investment Authority: Price per equity share of Rs 7,841.49.
HDFC said in a regulatory filing that we would like to inform you that the corporation has closed the sale on 25 May 2022 at a price of Rs 7,841.49 per equity share, taking the aggregate to Rs 184.29 crore.
After this sale, HCAL ceases to be a wholly-owned subsidiary of HDFC. However, it remains a subsidiary of the corporation.
HCAL is no longer a wholly-owned company.
Let us tell you that before this deal, HCAL was a wholly-owned subsidiary of HDFC. But after HDFC sold 10 percent shares of HCAL, it is no longer a wholly-owned subsidiary of HDFC.
HDFC’s business is up 1.99 percent.
Shares of HDFC were trading at Rs 2,282 on the BSE in afternoon trade, up 1.99 percent from the previous close.
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