HDFC Bank has subscribed to 50,000 Equity Shares of the face value of Rs10/- each fully paid up of IBBIC Private Limited (IBBIC) for consideration of Rs10 per equity share amounting to Rs5 lakhs, constituting 5.55% of the issued and paid-up capital of IBBIC.
“IBBIC has been incorporated on May 25, 2021, with the object to engage in the business of designing, building, implementing, and commercializing distributed ledger technology (“DLT”) solutions including development of DLT platforms and applications for the financial services sector.
Equity ownership of IBBIC is aimed at providing DLT solutions for the financial services sector,” the Bank said in a filing on Tuesday.
At around 10.51 AM, HDFC Bank Ltd was trading at Rs1,445.60 per piece up by Rs11.15 or 0.78% from its previous closing of Rs1,434.45 per piece on the BSE.
Related Tags: