iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

HDFC-led arm divests 17.50% stake in Kaizen; stock slips ~2%

10 Jan 2023 , 12:06 PM

HDFC Limited informed that HDFC Holdings Limited (HHL), its wholly-owned subsidiary, entered into an agreement to sell 2,12,121 equity shares of Rs10 each of Kaizen Management Advisors Private Limited (Kaizen), representing 17.50% of Kaizen’s total paid-up equity share capital. HHL would no longer own any shares in Kaizen following the proposed sale.

The company has agreed to pay Rs1.10 crore total consideration for the sale of 2,12,121 equity shares.

Kaizen was incorporated in India. The company provides consultancy, investment advisory, investment management, technical appraisal services, and other related services.

The sale will be completed by March 31, 2023. Because the buyer of the shares is not a related party of HHL, the transaction is not a related party transaction for HHL.

The corporation is a promoter of HHL but has no interest in Kaizen.

Kaizen’s total revenue for the fiscal year ended March 31, 2022, was Rs0.87 crore, with a net worth of Rs3.30 crore.

At around 12.03 PM, HDFC was trading at Rs1,572.15 per piece, down by 1.65% against the previous close of Rs1,597.50 on NSE. The counter touched an intraday high and low of Rs1,600 and Rs1,567.70 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • hdfc
  • HDFC Divestment
  • HDFC Stake
  • HDFC Stake Sale
  • HDFC Subsidiary
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.