LOLC’s stake in HDFC Bank tops 10%

Lanka Orix Leasing Company (LOLC) has increased its stake in HDFC Bank to over 10%.

The increase follows LOLC purchasing 139,400 shares of HDFC Bank at Rs. 435 each in a deal worth

Rs. 60.6 million.

With the purchase of around 2.1%, LOLC stake is now 10.42%. LOLC wasn’t a shareholder in HDFC Bank as at 30 June, 2010 which means the 10% had been acquired in recent months.