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HDFC’s big deal, will sell 10% stake of HDFC Capital to Abu Dhabi Investment Authority, what is the full plan

HDFC Capital’s 10 percent stake will be sold to a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA). For this, HDFC Ltd has made a binding agreement.

The country’s largest housing finance company HDFC Ltd has said that the company plans to sell 10 per cent stake in the subsidiary company HDFC Capital Advisors Ltd (HDFC Capital). According to a Reuters report, 10 percent stake in HDFC Capital will be sold to a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA). For this, the Housing Finance Company has made a binding agreement. The deal is worth about Rs 184 crore ($24.09 million).

Let us tell you that two weeks ago, housing finance company HDFC had given information about the merger with banking subsidiary HDFC Bank. Now after 2 weeks this new deal has come out. ADIA is also a primary investor in alternative investment funds managed by HDFC Capital. Whereas HDFC Capital is in the business of managing private equity funds focused on the real estate sector in India. HDFC Capital also promotes innovation and adoption of new technologies in the real estate sector through investments and partnerships in technology companies.

HDFC Capital was started in 2016

HDFC Capital was started in 2016. HDFC Chairman Deepak Parekh says this deal will enable HDFC Capital to leverage ADIA’s global expertise and experience. This will make HDFC Capital a major investment platform for global and local investors. HDFC says it is in discussions with leading global investors to raise additional funds for development of affordable and mid-income housing projects in India.

stock rise

HDFC shares are seeing a rise today. Today the stock gained 2 per cent on the NSE and came to a price of Rs 2,183. Whereas on Tuesday it closed at Rs 2140. By the way, after the news of merger with HDFC Bank, there was a fall in the stock. Talking about yesterday, the stock had fallen by about 19 percent in the last two weeks and it was out of the top 10 companies of BSE in terms of market cap.

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