Acquisitions & Mergers
HDFC Bank to sell its whole 9.95 percent equity stake at ₹600.36 per equity share to Softcell Technologies Global Private Limited (STGPL).
By Admin - 18 Jan 2024 01:38 PM
For a value of ₹9.94 crore, HDFC Bank has signed an agreement to sell its whole 9.95 percent equity ownership in Softcell Technologies Global Private Limited (STGPL) at ₹600.36 per equity share.
Founded on September 6, 2018, STGPL is a company that sells software, related services, and IT items. The company reported a net profit of ₹11.33 crore for FY22, with a turnover (operating income) of ₹584.42 crore.
According to the bank's regulatory filing, the deal is expected to be completed by the end of February.
According to the filing, STGPL is a shareholder of HDFC Investments Limited, a promoter group entity of the Bank.
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