HDFC plans to sell 10 percent stake in HDFC Capital to ADIA

[karan]

HDFC plans to sell 10 percent stake in HDFC Capital to Abu Dhabi Investment Authority

HDFC, India's leading mortgage lender, has sold a 10% stake in HDFC Capital to an Abu Dhabi Investment Authority (ADIA) wholly-owned subsidiary for about Rs 184 crore.

ADIA is also the main investor in HDFC Capital's alternative investment funds. The Abu Dhabi Investment Authority, founded in 1976, is a worldwide, diverse investment institution of the Government of Abu Dhabi.

HDFC Capital, a wholly-owned subsidiary of Housing Development Finance Corporation (HDFC), manages private equity funds focused on the Indian real estate sector.

HDFC Capital was founded in 2016 and works as the investment manager for the HDFC Capital Affordable Real Estate Funds 1, 2, and 3. It is dedicated to the Government of India's objective of maximizing housing supply and supporting the Pradhan Mantri Awas Yojana.

HDFC Capital manages a $3 billion funding platform that has recently been ranked as one of the world's largest private finance platforms focusing on affordable home construction.

Deepak Parekh, Chairman, HDFC, said, "Six years ago, we set up HDFC Capital with a vision of progressing in sync with the government's 'Housing For All' goal by increasing the supply of affordable homes in India."

SOURCE : https://www.stuffsearth.com/