Citi to sell stake in HDFC for up to $2.1 bln: sources (Reuters) - Citigroup Inc(C.N<http://in.reuters.com/finance/stocks/overview?symbol=C.N>) plans to raise up to $2.1 billion by selling its entire stake in Housing Development Finance Corp (HDFC), three source with direct knowledge of the deal told Reuters on Thursday.
Citigroup has launched the process to sell about 145 million shares, or a 9.9 percent stake, in India's top mortgage lender for between 630 rupees and 703.55 rupees per share, said the sources, declining to be named as the deal is not public yet. HDFC stock ended down 0.1 percent ahead of the news at 701.30 rupees. A spokesman for Citigroup in India declined to comment, while an HDFC spokesman could not immediately be reached. (Reporting by Sumeet Chatterjee and Indulal P.M.; additional reporting by Elzio Barreto in HONG KONG; Editing by Aradhana Aravindan) On Tue, Feb 14, 2012 at 3:06 PM, uttam jain <[email protected]>wrote: > > With property prices and interest rates rising with each passing year, the > government is reportedly considering raising the tax exemption on > interest paid on housing loans to up to Rs 3 lakh annually from the > existing limit of Rs 1.5 lakh in the coming budget, which is scheduled to > be tabled in Parliament on 16 March. > > > > -- > *Warm Regards,* > Uttam > -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
