HDFC Bank Ltd divests partial stake in CAMS

Out of 29,20,724 equity shares of Rs. 10 each held by erstwhile HDFC Ltd., in Computer Age Management Services Limited ("CAMS"), after the effective date (July 1, 2023) of the merger of HDFC Ltd. with and into HDFC Bank Limited (the "Bank"), the Bank sold 9,86,315 shares (representing 2.01% of the share capital of CAMS).

The divestment of 2.01% stake in CAMS over a period between August 25, 2023 and January 23, 2024 (both days inclusive). The Bank sold 9,86,315 shares of CAMS (being 2.01% equity stake) through the secondary market route on BSE & NSE, post which the shareholding of the Bank in CAMS currently is 3.94%.

The sale price (average) of Rs. 2,558.43 per share for 9,86,315 shares sold over a period between August 25, 2023 and January 23, 2024 (both days inclusive).

CAMS is a technology driven financial infrastructure and services provider to mutual funds and other financial institutions. As the registrar and transfer agency to the Indian mutual fund industry, CAMS serves ~69% of the average assets under management - as of June 2023. The company also provides technology enabled service solutions to Alternatives and Insurance Companies.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1427.60 as compared to the previous close of Rs. 1478.65. The total number of shares traded during the day was 1070004 in over 46490 trades.

The stock hit an intraday high of Rs. 1474.95 and intraday low of 1425.00. The net turnover during the day was Rs. 1543130577.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB StakeSale CAMS