HDFC sells shares of Ansal Housing to recover dues

Mortgage lender HDFC Ltd on Tuesday said it has sold a portion of the shares of Ansal Housing which it had acquired by way of invocation after the housing construction company failed to pay its loan dues.

Details about HDFC’s loan exposure to Ansal were not provided.

On June 16, Housing Development Finance Corporation (HDFC Ltd) had informed the exchanges about invocation of 50,00,000 shares of Ansal Housing Ltd, aggregating to 8.42 per cent of its share capital

“We now wish to inform that out of these invoked shares, the Corporation has sold 15,18,633 shares representing 2.56 per cent of the paid-up share capital of Ansal…,” HDFC said in a regulatory filing.

In a separate stock exchange filing, Ansal Housing said HDFC sold its shares through the open market on various dates starting from June 21, 2022.

Stock of HDFC closed at ₹2,217.05 apiece on BSE, up by 0.57 per cent from its previous close. Ansal Housing scrip ended 0.72 per cent lower at ₹6.90.