NEW DELHI : China’s central bank raised its stake in Housing Development Finance Corp. Ltd, the country’s largest mortgage lender told stock exchanges.
People’s Bank of China (PBOC) raised its stake to 1.01% from 0.8%, HDFC said. The stake comprises 17.49 million shares of the mortgage lender.
There is no law barring investments by the Chinese central bank in any Indian entity. Besides, it was a secondary market transaction and HDFC, thus, had no role in the deal.
The lender wasn’t required by law to disclose the Chinese central bank’s 0.8% stake in it but with the 1% threshold breached, it has complied with regulations by informing the stock exchanges.