HDFC Acquires 6.43% Stake In Reliance Capital.
Home loan business industry, HDFC mentioned that it has bought 6.43 percent stake in Reliance Capital, which is struggling with the debt burden, as a condition of its operations. Debt was taken after pledging shares. HDFC Limited has stated in the regulatory information that the company had taken loans from these shares in a normal commercial manner by pledging them.
The securities trustee on behalf of the company had mortgaged these shares to HDFC. With this move HDFC Limited has acquired 25.27 crore shares of Reliance Capital worth at Rs 10. The total value of these shares is Rs 252 crore. Information was also given on 27 March 2020. HDFC has further said that information was already given in this regard and now that these shares have come to the company’s account, this information is being given circulated once again.
China’s central bank bought HDFC Ltd. shares. Earlier, China’s central bank which is People’s Bank of China (PBOC) acquired more than one percent stake in India’s private sector housing finance lender (residential finance lender) HDFC Ltd. in the March quarter. For this, PBOC bought 1.75 crore shares of HDFC. The exchange is believed to have taken place between January and March 2020.
According to information from the regulatory exchange, the Bank of China has bought 1,74,92,909 crore shares, giving it a 1.01 percent stake. It is noteworthy that in the last few weeks, the share prices of HDFC Limited have fallen. The decline started from the first week of February, after which it saw a 41% reduction in its price. HDFC Vice President and CEO Keki Mistry said that as of March 2019, People’s Bank of China had a 0.80 percent stake.
