HDFC Bank trades higher as its arm inks pact to subscribes stake in 9Platforms Technology
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HDFC Bank is currently trading at Rs. 1639.95, up by 24.45 points or 1.51% from its previous closing of Rs. 1615.50 on the BSE.
The scrip opened at Rs. 1625.05 and has touched a high and low of Rs. 1640.95 and Rs. 1625.05 respectively. So far 47276 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1733.95 on 04-May-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1652.50 and Rs. 1597.55 respectively. The current market cap of the company is Rs. 913946.31 crore.
The promoters holding in the company stood at 25.59%, while Institutions and Non-Institutions held 60.49% and 13.92% respectively.
HDFC Bank’s subsidiary -- HDFC Securities (HSL) has executed agreements to subscribe 60,289 Cumulative Convertible Preference Shares (CCPS) fully paid up of face value of Rs 10 each at a premium of Rs 985.2064 per CCPS to be issued by 9Platforms Technology for an aggregate consideration of Rs 995.2064 per CCPS (the Transaction). Post completion of the Transaction, HSL will be holding around 8% equity stake of 9Platforms Technology on a fully diluted basis.
Financial investment in a growing startup which aims to democratize the workflows through technology. It will enable publishers to lower cost and develop products faster, build better consumer experiences and create developer friendly infrastructure and intelligent tools that solve big problems.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
