HDFC trims Gruh Finance stake for $129m

Indian mortgage lender Housing Development Finance Corp has completed a block sale of 31m shares, or a 4.2% stake, in Gruh Finance to rake in Rp8.9bn ($129.34m).

  • By Gina Lee
  • 14 Jun 2019

The secondary placement, which was launched to the market on Thursday after the Indian market closed, was priced at the floor price of Rp290 each on Friday morning local time. This is a discount of 6% to Gruh Finance's last close of Rp308.50 a share on Thursday. 

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