HDFC Bank has decided to sell 100 percent of its stake in HDFC Education and Development Services Private Limited. HDFC Bank said in the information given to the stock market on Saturday that the sale will be done through Swiss challenge (bidding process). According to the report, HDFC Bank has entered into a binding agreement with an interested party in this regard on March 30, 2024.
this is the deal
The offer contained in the agreement will serve as the base bid to receive counter offers from other interested parties. It said HDFC Bank will finalize the buyer based on the completion of the Swiss challenge process. It says that HDFC Education is providing services to three educational schools.
HDFC Bank is so powerful
Before the quarterly results of HDFC Bank, after the merger, HDFC Bank had become the seventh largest bank in the world. In fact, after the listing of the new stock, the market value of HDFC Bank has increased to beyond Rs 12.4 lakh crore. After the merger, on July 17, HDFC Bank shares worth Rs 311 crore were listed in the stock market.
Then the bank had earned a net profit of 30 percent. During this quarter, the profit of HDFC Bank had increased to Rs 11952 crore. Which was Rs 9,196 crore in the previous quarter. Today it is the group with the top-5 highest market cap in India.
