HDFC invokes pledged shares of Reliance Capital worth Rs 16 cr

Housing Development Finance Corporation (HDFC) has invoked the pledge on certain shares of Reliance Capital through Axis Trustee Services Ltd. 

The corporation has sold part of the shares, HDFC said in a regulatory filing. 

HDFC said it had acquired the shares of Reliance Capital through the invocation of pledge and that were sold through stock exchanges in the secondary market. 

''The sale transactions were carried out through stock exchanges at the prevailing market price. The aggregate consideration received for the sale of 95,00,000 shares is 16,08,16,075,'' it said. The shares were sold between June 3-8, 2021. 

The standalone total revenue of Reliance Capital stood at Rs 563 crore as of March 31, 2021. The company's balance sheet stood about Rs 13,638 crore. 

Earlier, HDFC had also invoked pledged shares of Anil Ambani-owned ADAG's other group companies such as Reliance Power and Reliance Infrastructure. 

Shares of HDFC closed 0.38 percent down at Rs 2,544.60 apiece on BSE.