HDFC arm acquires 12.47% in Xpedize

HDFC Capital Advisors Limited (HCAL), a wholly-owned subsidiary of Housing Development Finance Corporation Ltd, has acquired 1,623 equity shares by way of conversion of Compulsorily Convertible Preference Shares on March 9, 2022 and together with 182 equity shares already held by it in Xpedize, HCAL with effect from the said date, holds shares aggregating 12.47% of the equity share capital of Xpedize.

Xpedize is engaged in business of providing an online cloud-based technology platform which connects the suppliers of Xpedize's customers with invoice discounting service providers on a common digital platform.

HCAL is in discussions for sale of the shares held by it in Xpedize (including those acquired by way of conversion of CCPS), which is expected to be completed by March 31, 2022.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2238.90 as compared to the previous close of Rs. 2194.35. The total number of shares traded during the day was 75717 in over 6611 trades.

The stock hit an intraday high of Rs. 2299.00 and intraday low of 2206.85. The net turnover during the day was Rs. 170217530.00.

Source : Equity Bulls

Keywords

HousingDevelopmentFinanceCorporation INE001A01036 HDFC Xpedize