HDFC Bank Merger HDFC Limited Ahead of the merger with HDFC, HDFC Limited has sold 90 per cent stake in education loan company HDFC Credila to a consortium of PE firms. The merger of the two companies is to happen by the end of the second quarter of this financial year.
Housing finance company HDFC Ltd has sold 90 per cent stake in its education loan arm HDFC Credila Financial Services to a consortium of private equity firms for Rs 9,060 crore.
The sale of HDFC Credila has been done before the merger of HDFC Ltd and HDFC Bank, the promoter company of the company. The merger of both the big financial companies of the country is to happen in the second quarter of this financial year.
All three companies issued a statement
On behalf of HDFC Limited, HDFC Bank Limited and HDFC Credila Financial Services Limited, it was said that the company has signed an agreement with a consortium of investors to sell stake in HDFC Credila and these investors include companies like BPEA EQT and ChrysCapital. Is.
HDFC Credila’s income in the financial year 2022-23 has been Rs 1,352.18 crore, while the company’s income till March 31, 2023 has been Rs 2,435.09 crore. The company has so far disbursed loans to 1.24 lakh customers and has a loan book of Rs 15,000 crore.
On behalf of the company, 9.99 per cent stake will be kept in HDFC Credila. This company provides loans to students for studies in India and abroad.
HDFC CEO Keki Mistry said, “We believe the company is in a very good position and the company’s growth will continue once the new shareholders come on board.”
Company’s focus will be on digital transformation
Jimmy Mahtani, Partner and Head, BPEA EQT India, said HDFC Credila will continue to invest and accelerate its digital transformation.
