Major Stake Shift: Morgan Stanley and Citigroup Invest in HDFC Bank

Morgan Stanley and Citigroup purchased shares of HDFC Bank valued at over Rs 755 crore via open market transactions. The acquisition involved 43.75 lakh shares at Rs 1,726.2 each, previously held by BNP Paribas. HDFC Bank's shares then closed down 2.55% on the BSE.

Morgan Stanley and Citigroup have made a significant investment in HDFC Bank by purchasing shares valued at over Rs 755 crore in open market transactions on Thursday.

The deal, conducted through affiliates of both New York-headquartered financial services companies, involved the acquisition of 43.75 lakh shares of the Mumbai-based bank. These shares were bought at an average price of Rs 1,726.2 apiece, marking a substantial financial move.

Prior to this transaction, BNP Paribas' investment arm had sold these shares via two separate block deals on the BSE. Shares of HDFC Bank saw a decline, closing 2.55% lower at Rs 1,682.15 on the BSE.

(With inputs from agencies.)