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HDFC Bank has executed an agreement to sell its entire 9.95 per cent equity stake held in Softcell Technologies Global Private Limited (STGPL) at ₹600.36 per equity share for a consideration of ₹9.94 crore.
STGPL, incorporated on September 6, 2018, is in the business of selling IT products and providing software and allied services. In FY22, the company had a turnover (operating income) of ₹584.42 crore and posted a net profit of ₹11.33 crore
The indicative period for completion of the transaction is february-end, per the bank’s regulatory filing.
‘As on date, HDFC Investments Limited, which is a promoter group company of the Bank, is a shareholder of STGPL,’ the filing said.
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