Current Affairs   »   Banking Current Affairs 2022   »   For Rs 184 crore, HDFC will...

For Rs 184 crore, HDFC will sell a 10% interest in HDFC Capital to Abu Dhabi Investment Authority

HDFC Ltd, a mortgage lender, announced the sale of a 10% share in its private equity arm, HDFC Capital Advisors, to an Abu Dhabi Investment Authority (ADIA) wholly-owned subsidiary for Rs 184 crore on Wednesday.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

KEY POINTS:

  • ADIA is also the largest shareholder in HDFC Capital’s USD 3 billion alternative investment vehicles.
  • HDFC Capital, which was established in 2016, is the investment manager for the HDFC Capital Affordable Real Estate Funds 1, 2, and 3. It is aligned with the government’s goal of increasing housing supply and supporting the Pradhan MantriAwas Yojana – ‘Housing for All’ initiative, according to a statement from HDFC Ltd.
  • HDFC Capital manages funds that provide long-term, flexible capital for affordable and middle-income housing projects, including early-stage funding, according to the company.
  • In addition, the funds will invest in technology businesses involved in the affordable housing ecosystem, such as fin-tech and clean-tech.
  • HDFC said earlier this month that it would merge with HDFC Bank, the country’s largest private lender, to form a financial behemoth.
  • According to stock exchange records, HDFC Bank will be 100% held by public shareholders after the merger is completed, with existing HDFC shareholders owning 41% of the bank.

Find More Banking News Here

For Rs 184 crore, HDFC will sell a 10% interest in HDFC Capital to Abu Dhabi Investment Authority_50.1
For Rs 184 crore, HDFC will sell a 10% interest in HDFC Capital to Abu Dhabi Investment Authority_60.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *