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HDFC buys 15% stake in Tanzania’s First Housing Finance co

As part of greenfield expansion outside India, Housing Development Finance Corporation (HDFC) has acquired a 15% stake in Tanzania’s First Housing Finance for $1.5 million. The acquisition has been executed through HDFC Investments in which 32.7 million equity shares, equivalent to 15% share capital of First Housing, have been bought at a cash consideration of $1.5 million.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

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