HDFC Bank sells 2.21% stake in CDSL for Rs223cr

On 22 June 2021, the private sector bank sold 20,36,000 equity shares of CDSL (being 1.95% equity stake) through the secondary market route on NSE.

Aug 25, 2021 04:08 IST India Infoline News Service

HDFC Bank on Tuesday said in the filing that it has sold over 2% stake in Central Depository Services (India) Ltd (CDSL) in tranches during June 22, 2021 to August 24, 2021, garnering nearly Rs223cr from the sale.

The private lender sold 23,11,000 Equity shares of face value Rs10/- each fully paid up held by the Bank in Central Depository Services (India) Limited (“CDSL” or the “Company”) through the secondary market route on the National Stock Exchange of India Limited (“NSE”). The divestment of a 2.21% stake in CDSL took place over a period from June 22 to August 24, 2021.

On 22 June 2021, the private sector bank sold 20,36,000 equity shares of CDSL (being 1.95% equity stake) through the secondary market route on NSE. On 23 August 2021, the bank sold 2,13,481 equity shares of CDSL (being 0.20% equity stake) through the secondary market route.

On 24 August 2021, the bank sold 61,519 equity shares of CDSL (being 0.06% equity stake) through the secondary market route on NSE. Following the transactions, the shareholding of HDFC Bank in CDSL currently stands at 4.97%.

The deal was executed in open market and HDFC Bank received a total cash consideration of Rs222.71cr. The sale was carried out an average price of Rs937.46 per share on June 22, 2021, Rs1,168.94 per equity share on August 23, 2021 and at Rs1,119.31 per share on August 24, 2021, the bank said.

Stock news:

HDFC Bank Ltd ended at Rs1,556.95 down by Rs1.8 or 0.12% from its previous closing of Rs1,558.75 on the BSE.

Central Depository Services (India) Ltd ended at Rs1,155.35 down by Rs38.35 or 3.21% from its previous closing of Rs1,193.70 on the BSE.

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