Comments
HDFC Bank has executed an agreement to sell its entire 9.95 per cent equity stake held in Softcell Technologies Global Private Limited (STGPL) at ₹600.36 per equity share for a consideration of ₹9.94 crore.
STGPL, incorporated on September 6, 2018, is in the business of selling IT products and providing software and allied services. In FY22, the company had a turnover (operating income) of ₹584.42 crore and posted a net profit of ₹11.33 crore
The indicative period for completion of the transaction is february-end, per the bank’s regulatory filing.
‘As on date, HDFC Investments Limited, which is a promoter group company of the Bank, is a shareholder of STGPL,’ the filing said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.