Housing Development Finance Corporation (HDFC) has sold over 28.89 lakh shares held in Hindustan Oil Exploration (HOEC) from July 2021 to March 2022 for Rs 61 crore. Out of 1,15,72,786 equity shares of Rs 10 each held by HDFC in HOEC, the company has sold 28,89,638 shares representing 2.19 percent of the paid-up share capital of HOEC. The shares were sold on the secondary market through stock exchanges.
The shares have been sold between July 9, 2021, and March 24, 2022 (including these dates). The sale crossed the 2 percent threshold on a cumulative basis, on March 24, 2022. The sale transactions were carried out through stock exchanges at the prevailing market price.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
