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HDFC to acquire 9.12% stake in HDFC Credila Financial Services

Housing Development Finance Corporation (HDFC) is proposing to acquire around 1.14 crore equity shares of Rs 10 each of HDFC Credila Financial Services, a subsidiary of the company, representing 9.12% of the equity share capital of HDFC Credila on a fully diluted basis, from its other promoters for a total consideration not exceeding Rs 395 crore.

Currently, the company holds 90.88% of the equity share capital of HDFC Credila on a fully diluted basis and post completion of said acquisition, HDFC Credila would become a wholly owned subsidiary of the Corporation.

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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