HDFC Investments to sell stake in Softcell

HDFC Investments has today i.e. on February 28, 2023 entered into an agreement to sell 34,146 equity shares of 10 each of Softcell Technologies Global Private Limited (Softcell), representing 2.05% the total paid-up equity share capital of Softcell. Post the proposed sale, HDFC Investments would hold 1,65,735 equity shares of 10 each representing 9.95% of its paid-up share capital.

For the financial year ended on March 31, 2022 (standalone), the total income of Softcell aggregated to Rs. 587.53 crore and the balance sheet size was Rs. 199.71 crore.

Softcell is in the business of selling IT products and providing software and allied services.

The total consideration for the sale of 34,146 equity shares is Rs. 2,04,99,892.56 i.e. at a price of 600.36 per equity share.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2609.25 as compared to the previous close of Rs. 2592.80. The total number of shares traded during the day was 28593 in over 3318 trades.

The stock hit an intraday high of Rs. 2621.00 and intraday low of 2560.20. The net turnover during the day was Rs. 74447140.00.

Source : Equity Bulls

Keywords

HousingDevelopmentFinanceCorporation INE001A01036 HDFC HousingFinance StakeSale Softcell