UBS Group Acquires HDFC Bank Shares for Rs 543 Crore in Major Market Move

Swiss financial services company UBS Group acquired 30.72 lakh shares of private sector lender HDFC Bank, amounting to over Rs 543 crore. The transaction was made through an open market deal on BSE. Meanwhile, Goldman Sachs purchased 5.52 lakh shares of Five-Star Business Finance for Rs 45.50 crore.

Swiss financial services giant UBS Group made a significant investment on Wednesday by acquiring shares of HDFC Bank worth more than Rs 543 crore through an open market transaction.

Data from the BSE revealed that UBS Group's subsidiary, UBS Principal Capital Asia, purchased 30.72 lakh shares of HDFC Bank, which is based in Mumbai. The shares were bought at an average price of Rs 1,768.05 per share, bringing the total transaction value to Rs 543.27 crore.

These shares were sold by Paris-based BNP Paribas through its affiliate BNP Paribas Financial Markets at the same price. In a separate transaction on the BSE, Goldman Sachs acquired 5.52 lakh shares of Five-Star Business Finance for over Rs 45 crore, at an average price of Rs 824 per share.

(With inputs from agencies.)