Currently in discussions with potential buyers, HSBC expects that the deal will yield approximately INR4250m ($76.5m) – INR4500m ($81m), as reported by the Economic Times.
HSBC has 4.98% in Federal Bank and 4.46% in Karnataka Bank.
Most recently, the London based lender sold its stake in two Indian banks, Axis Bank and YES Bank, in which it had 5% stake in each, which fetched INR24,000m ($432m).
