HDFC To Sell Majority Stake In HDFC Credila For Rs 9,060 Crore

HDFC, one of India's leading financial institutions, has recently announced a significant development in its operations. The company has entered into an agreement to sell a 90% stake in HDFC Credila, its subsidiary focused on education loans, for a whopping sum of Rs 9,060 crore.

A total of 13,29,49,207 equity shares of HDFC Credila, or around 90% of the company's current issued and paid-up share capital, will be sold by the corporation to Baring PE and ChrysCapital.

HDFC Credila will no longer be a subsidiary of HDFC following the proposed transaction, and the corporation's ownership stake in HDFC Credila will represent less than 10% of the company's total issued and paid-up share capital.

HDFC Credila Financial Services is being purchased by Kopvoorn B.V., Moss Investments Ltd, Defati Investments Holding B.V., and Infinity Partners. The BPEA EQT Group includes Kopvoorn B.V. Infinity Partners, Defati Investments Holding B.V., and Moss Investments Ltd. are all a part of the ChrysCapital Group.

In accordance with the Proposed Transaction, HDFC Credila will no longer be a subsidiary of HDFC Limited, and HDFC Limited's ownership of HDFC Credila will represent less than 10% of HDFC Credila's total issued and paid-up share capital.