HDFC Bank has increased its stake in HDFC Securities by picking up additional stake in the company.
"HDFC Bank Ltd has informed BSE that the Bank has completed the acquisition of additional 42,75,000 equity shares of its subsidiary HDFC Securities Limited ("HSL") from an existing shareholder. With this acquisition the total shareholding of the Bank in its Subsidiary has increased from 62.06% to 89.88% of the paid-up capital of HSL," the firm said in a statement to the BSE.
HDFC Securities is one of the leading stock broking companies in India and a subsidiary of HDFC Bank- a renowned private sector bank.
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