HDFC sells education loan arm HDFC Credila for Rs 9,060 crore
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HDFC said in a statement that a consortium of private equity firms including ChrysCapital and BPEA EQT have acquired 90 per cent stake in HDFC Credila.
New Delhi. HDFC has sold its education loan arm HDFC Credila to a consortium of private equity firms for Rs 9,060 crore. HDFC said in a statement that a consortium of private equity firms including ChrysCapital and BPEA EQT have acquired 90 per cent stake in HDFC Credila. The sale of HDFC Credila, the education loan arm of Housing Development and Finance Corporation (HDFC), comes ahead of HDFC’s merger with HDFC Bank.
HDFC Limited, HDFC Bank Limited and HDFC Credila Financial Services Limited said on Tuesday that they have entered into a binding agreement for this. HDFC Credila had a total revenue of Rs 1,352.18 crore during the financial year 2022-23 and had net assets of Rs 2,435.09 crore as on March 31, 2023.
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