The move is part of HSBC's plans to focus more on its core business.HSBC Securities Delhi Pvt Ltd, the broking arm of the bank and a wholly-owned subsidiary of HSBC Securities India Holding Ltd, was sold to ISF Securities Ltd for Rs 30 lakh, sources said.Sources added that this was a huge discount as HSBC bought the DSE ticket at over Rs one crore about three years back.Currently the book-value of the 379-member strong DSE card is around Rs 18.5 lakh and has a face value of Rs 2,000.

The bank has recently sent an application to Securities and Exchange Board of India (Sebi) for notifying the deal after the board of directors at DSE approved the proposal.

ISF Securities managing director BK Sabharwal confirmed the deal saying his firm had approached HSBC for buying its Delhi broking arm some months back.Although HSBC Securities had bought the DSE membership card but it was never a major operator in the Delhi exchange, the sources added.

Delhi Stock Exchange, in recent years, witnessed a surge in volume to over Rs 500 crore a day as compared to less than Rs 100 crore 3-4 years back.Sources said the foreign bank wanted to sell the Delhi broking card because it was no more interested in DSE, besides, it wanted to focus more on banking, its core business.