HDFC Bank sells 3% stake in Indraprastha Medical Corp for Rs 55 crore

HDFC Bank on Thursday said it has sold a 3.03 per cent stake in Indraprastha Medical Corporation Ltd for Rs 55.46 crore through the secondary market route on NSE.

Incorporated in 1988, Indraprastha Medical Corporation Ltd is promoted by the Delhi government and Apollo Hospitals.

It operates two hospital facilities -- one based out of New Delhi and another in Noida.

HDFC Bank, in a filing, said 27,81,897 shares of Indraprastha (being 3.03 per cent equity stake) were sold over a period between February 29 and April 4, 2024, (both days inclusive) by the lender.

Post divestment, the shareholding of the bank in Indraprastha Medical Corporation reduced to 2.45 per cent, the filing said.