| World’s largest sovereign wealth fund Abu Dhabi Investment Authority (ADIA) has quietly acquired close to 2 per cent stake in HDFC Bank Ltd, the country’s most valued private lender, in what could have cost it around Rs 2,000 crore ($400 million), according to VCCircle estimates.
ADIA did not figure among HDFC Bank’s shareholders owning over 1 per cent stake as of September 2011, but held 1.94 per cent as on December 31, 2011. Although it could have acquired around half of its stake before October without having to make a disclosure, it might have made the bulk of its purchase during the last quarter when the average share price of HDFC Bank was in the range of Rs 400-Rs 500 a share...............................................Full Article: Source
|