HDFC to sell 24.48% share in Good Host for Rs 232.81 cr
HDFC had acquired 25.01 per cent stake in Good Host in August 2018 for Rs 69.5 crore
PTI | January 21, 2021 | Updated 12:24 IST
Good Host would cease to be an associate company of the corporation, HDFC said.
Mortgage lender HDFC Ltd has signed an agreement to sell its 24.48per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 232.81 crore, according to a regulatory filing. The corporation has today entered into a share purchase agreement for sale of 47,75,241 equity shares of Re 1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host, Housing Development Finance Corporation Ltd (HDFC) said in the late night regulatory filing on Wednesday.
Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 76.46 points or 1.04% at 7246.72 at 13:48 IST. Among the components of the S&P BSE Finance index, Shriram Transport Finance Company Ltd (down 6.05%), Magma Fincorp Ltd (down 5.05%),Cholamandalam Investment & Finance Company Ltd (down 4.93%),Dolat Investments Ltd (down 4.71%),Dewan Housing Finance Corporation Ltd (down 4.64%), were the top losers. Among the other losers were Dhanlaxmi Bank Ltd (down 4.2%), Muthoot Finance Ltd (down 4.13%), Bandhan Bank Ltd (down 3.93%), Bajaj Finance Ltd (down 3.63%), and Housing Development Finance Corporation Ltd (down 2.91%). On the other hand, Housing & Urban Development Corporation Ltd (up 12.3%), Jammu and Kashmir Bank Ltd (up 8.63%), and Paisalo Digital Ltd (up 4.31%) moved up.
Read more about Volumes soar at IDFC Ltd counter on Business Standard. IDFC Ltd recorded volume of 875.42 lakh shares by 10:48 IST on BSE, a 112.65 times surge over two-week average daily volume of 7.77 lakh shares