Housing Development Finance Corporation (HDFC) has divested a little over 3 per cent stake in Bandhan Bank, garnering Rs 1,522 crore, through an open market transaction. The transaction comes days after HDFC announced a mega merger with its banking arm HDFC Bank. The company sold a total of 4,96,32,349 shares, amounting to 3.08 per cent stake, of Bandhan Bank. The shares were offloaded at an average price of Rs 306.61 apiece.
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.
