HDFC bets Anil Ambani's debt-ridden firm, purchased stake

by Jeremy Spirogis
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New Delhi. Financial providers firm HDFC has positioned bets on Anil Ambani's debt-ridden Reliance Capital. HDFC has purchased a 6.43 per cent stake in Reliance Capital, which is going through monetary disaster. The firm acquired these shares by forfeiting the pledged shares. These shares had been pledged by Reliance Capital in trade for a mortgage, which has now been acquired by HDFC. HDFC holds 25.27 crore shares of Reliance Capital at Rs 10 every, valued at Rs 252 crore. According to HDFC, the acquisition of Reliance Capital's shares was already disclosed on March 27, however now the shares have been included within the firm's account, so the disclosure is being made as soon as once more. <! –

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HDFC shares had been additionally held by these firms

Similarly, HDFC has acquired 8.21 per cent stake in Reliance Infrastructure and 6.97 per cent stake in Reliance Power. In a inventory trade submitting, HDFC stated it acquired 1,62,45,00zero shares in Reliance Capital holding voting rights. Further, in accordance with the corporate, it acquired 2,15,80,995 shares in Reliance Infrastructure with voting rights. HDFC additionally acquired 19,54,87,901 shares in Reliance Power. The acquisition of shares by HDFC in all these firms happened on 26 March 2020.

Reliance Capital defaulted in January

In January this yr, Reliance Capital had knowledgeable the inventory exchanges that they defaulted on time period loans from Axis Bank and HDFC. It had taken a mortgage of Rs 523.98 crore from HDFC and Rs 100.63 crore from Axis Bank. On Friday, HDFC shares opened at Rs 1610.00 in opposition to the earlier closing stage of Rs 1662.50 and at last closed at Rs 1579.35, down Rs 83.15 or 5.00 per cent. At this value, the corporate has a market cap of Rs 2,73,550.94 crore. In the previous 52 weeks, its inventory has been at an all-time excessive of Rs 2,499.65 and a low of Rs 1,473.10.

Anil Ambani: as soon as the sixth wealthy man, today the situation is dangerous

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