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HDFC acquires 6.43% stake in Reliance Capital

Mortgage lender Housing Development Finance Corporation (HDFC) acquired 6.43% stake in debt-trapped  Reliance Capital on Saturday. 

In a regulatory filing, HDFC said it has acquired 1,62,45,000 shares carrying voting rights in Anil Ambani group company. 

These shares were acquired pursuant to invocation of pledge by the security trustee (Axis Trustee Services) 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 regulatory filing.

Following this the company acquired 25.27 crore shares of Rs. 10 each which made worth Rs. 252 crore.

In addition, HDFC also acquired 8.21% stake with 2,15,80,995 shares carrying voting rights in Reliance Infrastructure and 6.97% stake with 19,54,87,901 shares carrying voting rights in Reliance Power Ltd. 

The statement also said that the requisite disclosure had already been made on March 27, and since the shares have now been credited to the account of the Corporation, the disclosure was being made once again.

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