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.
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