Mortgage lender HDFC has sold over 4.22% stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for ₹899.43 crore. Post the completion of the aforesaid sale of shares, Gruh would cease to be a subsidiary of the Corporation.
Gruh is engaged in the business of providing home loans and is registered with the National Housing Bank as a housing finance company.
Source: Live Mint
Static/Current Takeaways Important For LIC AAO/ADO Mains 2019:
- Chairman of HDFC Ltd: Deepak Parekh