HDFC Capital Advisors to invest in Loyalie

HDFC Capital Advisors Limited (HCAL), a wholly-owned subsidiary of Housing Development Finance Corporation Ltd, has entered into a Share Subscription Agreement for acquisition of 3,90,666 equity shares of Loyalie which post allotment, would entitle HCAL to approximately 7.20% of the equity share capital of Loyalie as on date, on a fully diluted basis.

Loyalie is engaged in the business of offering marketing schemes proposed by its clients, offering loyalty / reward bonuses proposed by its clients and providing real estate brokerage services as per its clients' requirements.

Investment in Loyalie is proposed to be made by HCAL under its H@ART initiative programme to invest in technology companies for the benefit of the real estate ecosystem. A binding share subscription agreement in relation to such proposed investment has been entered into by HCAL.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2416.50 as compared to the previous close of Rs. 2288.30. The total number of shares traded during the day was 113201 in over 9699 trades.

The stock hit an intraday high of Rs. 2423.85 and intraday low of 2334.00. The net turnover during the day was Rs. 270874473.00.

Source : Equity Bulls

Keywords

HousingDevelopmentFinanceCorporation INE001A01036 HDFCCapitalAdvisors Investment Loyalie