HDFC Bank to divest stake in NSDL IPO via OFS

HDFC Bank will sell up to 40 lakh equity shares in NSDL as part of its partial divestment of equity stake held in NSDL. The first tranche of stake sale was worth Rs 2,750 per equity share, with HDFC bagging a cash consideration of Rs 110 crore. If HDFC Bank successfully offloads a 2% stake in NSDL through the IPO, then HDFC Bank's shareholding will drop to 6.95% in NSDL.