HDFC sells 10 per cent stake in HCAL to Abu Dhabi Investment Authority
May 26, 2022
Mumbai (Maharashtra) [India], May 26 : India's largest mortgage lender Housing Development Finance Corporation (HDFC) on Thursday said it has sold 10 per cent of its stake in HDFC Capital Advisors Limited (HCAL) to Abu Dhabi Investment Authority for 184 crore.
"We refer to our intimation dated April 20, 2022 under Regulation 30 of the Listing Regulations informing about execution of a share purchase agreement for sale of 2,35,019 equity shares of Rs 10 each of HDFC Capital Advisors Limited (HCAL) representing 10 per cent of its fully diluted paid-up share capital, to a wholly owned subsidiary of Abu Dhabi Investment Authority, for an aggregate consideration of approximately Rs 184 crore," HDFC said in a regulatory filing to the stock exchanges.
"In this connection, we wish to inform you that the Corporation has on May 25, 2022 concluded the aforementioned sale, at a price of Rs 7,841.49 per equity share, aggregating to a consideration of Rs 184.29 crore," it added.
After the stake sale, HDFC Capital Advisors Limited ceases to be a wholly-owned subsidiary of HDFC. However, it continues to be a subsidiary of the Corporation.
