RBI Approves HDFC Bank’s 90% Stake Sale in HDFC Credila

HDFC Bank has secured approval from the Reserve Bank of India (RBI) for the divestment of a 90% stake in HDFC Credila, its education loan subsidiary. This decision follows RBI’s directive to HDFC to reduce its stake in Credila to below 10% within two years post the HDFC Bank merger in April 2023.

Approval Confirmation and Consortium Details

• HDFC Bank confirmed RBI’s approval via an exchange filing, dated February 23, 2024.
• A consortium comprising BPEA EQT and ChrysCapital group, with specific entities such as Kopvoorn B.V., Moss Investments Ltd, Defati Investments Holding B.V., and Infinity Partners, will acquire the stake.

Retained Stake and Loan Portfolio

• HDFC Bank will retain a 9.99% stake in HDFC Credila.
• HDFC Credila has provided education loans to over 1.24 lakh customers, with a current loan book exceeding ₹15,000 crore.

Future Plans and Digital Transformation

• BPEA EQT, represented by Jimmy Mahtani, intends to drive HDFC Credila’s digital transformation and foster its growth through substantial investments.