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Home >Companies >News >HDFC Bank offloads 2% stake in CDSL for 223 cr

HDFC Bank has offloaded more than 2 per cent stake in Central Depository Services (India) Ltd (CDSL) over a period of three months. The private sector lender sold the stake for 223 crore.

In a regulatory filing on Tuesday, HDFC Bank divested 2.21 per cent stake in CDSL over a period from June 22 to August 24.

The bank sold 23,11,000 equity shares of face value of 10 each fully paid up held by the bank in CDSL through the secondary market route on the NSE, it said in the filing.

The bank sold 20,36,000 shares (1.95 per cent) of CDSL at an average price of 937.46 per piece on June 22. On August 23, it sold 2,13,481 shares at 1,168.94 apiece and on August 24, it sold 61,519 shares for 1,119.31 apiece.

The shares were sold for a cash consideration of 222.71 crore, HDFC Bank said.

CDSL provides depository services to market participants. It has three operating services - depository, data entry and storage, repository.

The data entry and storage unit keeps a centralised record of KYC document of capital market investors. Repository provides policyholders and warehouse receipt holders the facility to keep insurance policies and warehouse receipts in electronic form, as well as to undertake changes, modifications and revisions in it.

HDFC Bank shares closed trade on Tuesday at 1,558.75, up 35.25 points or 2.31 per cent.

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