HDFC divests its stake in Xpedize

HDFC Capital Advisors Limited (HCAL), a wholly_owned subsidiary of the Corporation, acquired 1,623 equity shares by way of conversion of Compulsorily Convertible Preference Shares and together with 182 equity shares already held by it in Xpedize, HCAL held 12.47% of the equity share capital of Xpedize

HCAL is in discussions for sale of the shares held by it in Xpedize (including those acquired by way of conversion of CCPS), which is expected to be completed by March 31, 2022

In this connection, HCAL has concluded the sale of 1,805 equity shares of Xpedize representing 12.47% of its paid-up capital to SIC, a US based entity, for a total consideration of USD 980,806 (equivalent to Rs 7,49,13,962)