The mortgage lender HDFC has reduced its stake in Reliance Capital via open market. The non-banking finance company sold the shares on June 3, June 4 and June 8, it informed the exchange.
The company sold 3.76 per cent stake or 95 lakh shares in Reliance Capital. Before the stake sale, HDFC held a 6.43 per cent stake in Reliance Capital. Now, HDFC has 2.67 per cent stake representing 67.45 lakh shares.
Meanwhile, today Reliance Capital was trading at Rs 18.63 per piece which is up by 0.88 points or 4.96 per cent.
In April 2020, HDFC said it acquired a 6.43 per cent stake in debt-trapped Reliance Capital. These shares were acquired pursuant to invocation of pledge by security trustee on behalf of the corporation, which was pledged against a loan given by the lender in its normal course of business, HDFC Ltd said in a regulatory filing.
Recently, HDFC had sold 81,05,667 shares representing 3.08 per cent of the paid-up share capital of Reliance Infrastructure as well.