Mortgage lender HDFC, which had invoked 50 lakh pledged shares of Ansal Housing as part of the recovery of its outstanding dues from the developer earlier in the month, sold over 4.35 lakh shares on NSE.
Bulk deal data showed that HDFC sold 4,35,796 shares of Ansal Housing at an average price of Rs 7.04 on NSE in open market transactions. This translates to a sale of about 0.7 per cent stake.
The microcap stock, down around 15 per cent in the last year, ended marginally lower at Rs 6.97.
“For recovery of part outstanding dues against loans availed by certain pledgers/borrowers, the Corporation on June 15, 2022, invoked the pledge on 50,00,000 shares of Ansal Housing (Ansal) aggregating 8.42 per cent of its paid-up share capital, pledged with the Corporation by the said pledger/borrower,” HDFC had said in a regulatory filing last week.
Media reports had earlier said that in an attempt to clean up its books before the announced merger with its subsidiary bank, HDFC Ltd, is in the final stages of selling four large distressed accounts, including that of Subhash Chandra-promoted Siti Networks, to Assets Care and Reconstruction Enterprise (ACRE).