HDFC Bank rises as its arm to acquire 8.5% stake in Truboard Technologies
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HDFC Bank is currently trading at Rs. 1529.40, up by 14.80 points or 0.98% from its previous closing of Rs. 1514.60 on the BSE.
The scrip opened at Rs. 1519.90 and has touched a high and low of Rs. 1530.70 and Rs. 1514.50 respectively. So far 155203 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1757.80 on 03-Jul-2023 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. 1544.95 and Rs. 1498.25 respectively. The current market cap of the company is Rs. 1151727.08 crore.
The Institutions and Non-Institutions held 81.34% and 18.65% stake respectively in the company.
HDFC Bank’s subsidiary -- HDFC Capital Advisors (HCAL) has entered into a Share Subscription Agreement for acquisition of 1,043 Equity Shares of Truboard Technologies which post allotment, would entitle HCAL to 8.5% of the equity share capital of TruBoard on a fully diluted basis.
Investment in TruBoard is proposed to be made by HCAL under its H@ART initiative programme to invest in technology companies for the benefit of the real estate ecosystem. A binding share subscription agreement in relation to such proposed investment has been entered into by HCAL on May 30, 2024. The said acquisition is expected to be completed till June 7, 2024.
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.
