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HDFC Bank Sells 3% Stake In Indraprastha Medical Corp For Rs 55 Crore
Incorporated in 1988, Indraprastha Medical Corp. Ltd is promoted by the Delhi government and Apollo Hospitals.
04 Apr 2024, 11:30 PM IST 
The exterior of HDFC Bank's branch in Churchgate. (Source: Vijay Sartape/NDTV Profit)
HDFC Bank on Thursday said it has sold a 3.03% stake in Indraprastha Medical Corporation Ltd for Rs 55.46 crore through the secondary market route on NSE.
Incorporated in 1988, Indraprastha Medical Corp. Ltd is promoted by the Delhi government and Apollo Hospitals.
It operates two hospital facilities -- one based out of New Delhi and another in Noida.
HDFC Bank, in a filing, said 27,81,897 shares of Indraprastha (being 3.03% equity stake) were sold over a period between Feb. 29 and April 4, 2024, (both days inclusive) by the lender.
Post divestment, the shareholding of the bank in Indraprastha Medical Corporation reduced to 2.45%, the filing said.