People’s Bank of China raises its stake in HDFC

People’s Bank of China (PBOC) has raised its stake in Housing Development Finance Corporation Limited (HDFC) from 0.8% to 1.01%. The stake raising process was done as a secondary market transaction. The stakes comprises of 17.49 million shares of the the country’s largest mortgage lender HDFC. After the transaction, the closing price of the Chinese central bank’s stake in HDFC was Rs 2,976 crore.

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The disclosure was made by the HDFC to the stock exchanges as the stake has crossed the 1% regulatory threshold.

Important takeaways for all competitive exams:

  • Vice chairman and CEO of HDFC: Keki M Mistry.
  • Managing Director of HDFC: Renu Sud Karnad.
  • Governor of People’s Bank of China: Yi Gang.

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