HSBC sold its Entire Stake in Federal Bank for 341 Crore Rupees


Banking major HSBC on 28 August 2012 sold its entire stake in Kerala-based private sector lender Federal Bank. HSBC sold its 5 percent stake in Federal Bank through open market transaction for 341 crore rupees.
HSBC was holding 85.16 lakh shares of Federal Bank, which it sold on an average price of 401.04 rupees.
Earlier in June 2012, HSBC had sold its total stake in Axis Bank and Yes Bank for 2425 crore rupees. The UK-based bank held 4.75 percent and 4.76 percent in Axis Bank and Yes Bank respectively.

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