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HDFC To Buy BSE Stake

HDFC Bank will acquire a 1% stake in Bombay Stock Exchange through a preferential allotment.

HDFC Bank will acquire a 1% stake in Bombay Stock Exchange (BSE) through a preferential allotment, Economic Times reports.The bank will buy about one million shares at a price of$8.3 per share.

The preferential offer has valued the exchange at $850 million. Previously, George Soros had bought about a 4% stake in BSE through his hedge fund Quantum (Mauritius) in August 2010.

Click here for the story from Economic Times.

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