HDFC to sell 10% stake in HDFC Capital to ADIA's subsidiary

by IANS |

Mumbai, April 20 (IANS) Housing loan major HDFC will sell 10 per cent stake in HDFC Capital Advisors to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Accordingly, the housing loan major entered into binding agreements to sell 10 per cent of its fully diluted paid-up share capital of HDFC Capital to ADIA's subsidiary for approximately Rs 184 crore.

Notably, ADIA is the primary investor in the alternative investment funds managed by HDFC Capital.

Set up in 2016, HDFC Capital is the investment manager to 'HDFC Capital Affordable Real Estate Funds 1, 2 & 3'; and is aligned with the Government of India's goal to increase housing supply and support the Pradhan Mantri Awas Yojana - 'Housing for All' initiative.

It manages an approximately $3 billion funding platform which has recently been rated as one of the world's largest private finance platforms focused on development of affordable housing.

The funds managed by HDFC Capital provide long-term, flexible funding across the lifecycle of affordable and mid-income housing projects including early-stage funding.

In addition, the funds also invest in technology companies engaged in the affordable housing ecosystem.

"HDFC Capital's target is to finance the development of one million affordable homes in India through a combination of innovative financing, partnerships and technology, whilst focusing on sustainability," the company said in a statement.

"In order to achieve this objective, the company is in active discussions with leading global investors to raise additional funds to be invested in development of affordable and mid-income housing projects in India."

Latest News
More 'surgical strikes' in offing in Kashmir University Mon, May 16, 2022, 04:47 PM
Post-mortem of Bengali TV actress Pallavi Dey hints at suicide Mon, May 16, 2022, 04:45 PM
Goons create ruckus at Dalit's marriage function in MP, pelt stones at police Mon, May 16, 2022, 04:41 PM
RSS founder Hedgewar's speech in Karnataka board textbook likely to stir controversy Mon, May 16, 2022, 04:39 PM
80-hour regime: Ajit Pawar, Fadnavis 'ko gussa kyun aata hai' Mon, May 16, 2022, 04:37 PM
Facing stiff oppn, Kerala govt's K-Rail survey to go hi-tech Mon, May 16, 2022, 04:25 PM
UP govt to roll out road safety campaign Mon, May 16, 2022, 04:20 PM
Palestinian dies of wounds after being shot in West Bank Mon, May 16, 2022, 04:15 PM
Rahul visits Rajasthan's Beneshwar Dham after 3-day Chintan Shivir Mon, May 16, 2022, 04:15 PM
Lingayat community seeks OBC status, BJP in a fix Mon, May 16, 2022, 04:09 PM
MP police directed to monitor missionary schools over alleged conversions Mon, May 16, 2022, 04:03 PM
Kim issues special order on medicine supply against Covid outbreak Mon, May 16, 2022, 04:02 PM
Amid resentment, 11 Tripura ministers take oath Mon, May 16, 2022, 04:00 PM
Afghan journos restricted from covering security incidents Mon, May 16, 2022, 03:55 PM
CBI summons Trinamool MLA in connection with BJP worker's murder Mon, May 16, 2022, 03:42 PM