Gruh Finance shares rally 8% on report HDFC may sell stake to meet RBI norms
Updated : August 30, 2019 10:04 AM IST
The share price of Gruh Finance rallied 8 percent intraday on Friday as HDFC is expected to raise Rs 1,678 crore by selling 9.2 percent stake in the company, an ET report said.
As per the said report, HDFC will sell 67.4 million shares at a floor price of Rs 243 to Rs 249 per share in the open market.
HDFC had earlier sold stake in Gruh Finance through two stock market transactions.