HDFC Bank to buy Rs.1,906-Cr stake in group insurance arm from parent HDFC

HDFC Bank is to buy more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over INR 1,906 crore from the parent company Housing Development Finance Corporation (HDFC). The purchase will amount to 4.99% of the paid-up capital of HDFC ERGO General Insurance Company.