HDFC Bank, the leading private sector lender,  has subscribed to 50,000 Equity Shares of the face value of Rs 10 each fully paid up of IBBIC (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55% of the issued and paid-up capital of IBBIC. Equity ownership of IBBIC is aimed at providing DLT solutions for the financial services sector.

IBBIC has been incorporated with the object to engage in the business of designing, building, implementing and commercializing distributed ledger technology (DLT) solutions including development of DLT platforms and applications for the financial services sector.

Shares of the bank gained Rs 5.35, or 0.37%, to settle  at  Rs 1,439.80.  The total volume of shares traded  was  72,850 at  the BSE (Tuesday).