HDFC to acquire remaining stake in education loan subsidiary for ₹395 crore

MUMBAI : Mortgage lender Housing Development Finance Corp (HDFC) on Monday said it plans to acquire the remaining 9.12% stake in its higher education financing subsidiary HDFC Credila Financial Services Private Limited (HDFC Credila) for up to ₹395 crore. “We wish to inform you that the Corporation is proposing to acquire 1,14,70,000 equity shares of Rs. 10 each of HDFC Credila Financial Services Private Limited (HDFC Credila), a subsidiary of the Corporation, representing 9.12% of the equity share capital of HDFC Credila on a fully diluted basis, from its other promoters Ajay Bohora and…

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