Private sector lender HDFC Bank will buy a 9.11 per cent stake in CSC E-Governance Services. The acquisition, for ₹14.62 crore, which HDFC Bank termed as a “strategic investment”, will be on cash basis.
“HDFC Bank has executed an agreement for subscribing to 37,993 equity shares of face value of ₹1,000 each to be issued by CSC E-Governance Services India Limited at ₹3,848 per equity share,” the lender said in a regulatory filing on Thursday.