HDFC Ltd inks pact with BPEA EQT-led consortium for 90% stake sale

Mortgage lender HDFC Ltd on Monday told the exchanges that it had executed definitive documents to divest or sell nearly 90 percent of its stake in education loan subsidiary HDFC Credila to a consortium of private equity firms BPEA EQT and ChrysCapital.

The valuation of the deal is around Rs 9,060 crore, HDFC said in the exchange filing.

The filing said it was subject to regulatory approvals and waivers (including the RBI and the Competition Commission of India) in connection with the proposed transaction and the continuation of HDFC Credila’s business.

The statement added, “According to the proposed deal, HDFC Credila will cease to be a subsidiary of the corporation, and the company’s shareholding in HDFC Credila will be less than 10 percent of HDFC Credila’s total issued and paid-up capital.”

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First published: June 20, 2023 | 2:15 a.m ist