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Mortgage lender Housing Development Finance Corporation HDFC on Wednesday said it has invoked pledge on Ansal Housing Ltd's shares aggregating to 7.78% of its paid-up share capital to recover part of outstanding dues.

The corporation invoked pledge on shares representing 7.78% of the paid-up share capital of acquisition Ansal, on August 3, 2021, it said. A part of the shares pledged with the Corporation were invoked for recovery of part outstanding dues against loans availed by pledgers.

"The corporation in its normal course of business extends loans to various borrowers. For the purpose of recovery of part outstanding dues against loans availed by certain pledgers/borrowers, the corporation on August 3 2021, invoked the pledge on 46,20,000 shares (in aggregate) of Ansal Housing Ltd (Ansal) aggregating 7.78 per cent of its paid-up share capital, pledged, with corporation by the said borrower," HDFC said in a regulatory filing.

Housing Development Finance Corporation (HDFC), however, did not elaborate on Ansal Housing's total outstanding. HDFC said Ansal Housing's turnover for the year ended March 31, 2021, was 139.03 crore and its net worth is 170 crore.

Shares of HDFC were trading over 4% higher at 2,665 per share on the BSE in Wednesday's early deals.

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