HDFC Bank jumps after securing approval for sale of 100% stake in HDFC Edu
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HDFC Bank is currently trading at Rs. 1649.30, up by 29.65 points or 1.83% from its previous closing of Rs. 1619.65 on the BSE.
The scrip opened at Rs. 1619.65 and has touched a high and low of Rs. 1652.70 and Rs. 1619.65 respectively. So far 160399 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1791.90 on 03-Jul-2024 and a 52 week low of Rs. 1363.45 on 14-Feb-2024.
Last one week high and low of the scrip stood at Rs. 1725.90 and Rs. 1613.40 respectively. The current market cap of the company is Rs. 1256674.73 crore.
The Institutions and Non-Institutions held 83.25% and 16.75%, stake in the bank respectively.
HDFC Bank has received an approval for sale of 100% stake in HDFC Education and Development Services (HDFC Edu) to Vama Sundari Investments (Delhi), being the successful bidder under the sale process, for Rs 192 crore. The Board of Directors of the Bank has on October 7, 2024 approved the same.
While the Bank would divest 91% stake in HDFC Edu on or before October 31, 2024, the remaining stake would be divested no later than June 30, 2025. Upon completion of sale of remaining 9% stake, necessary disclosure would once again be made by the Bank, in terms of the applicable provisions of the Listing Regulations.
HDFC Bank is one of India’s premier banks providing a widerange of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
