HDFC Limited, one of the leading mortgage lender in India on Wednesday said that it has sold 10 per cent stake in HDFC Capital to a wholly-owned subsidiary of the of the Abu Dhabi Investment Authority (ADIA) for Rs 184 crore. ADIA is also the primary investor in the alternative investment funds managed by HDFC Capital.
“HDFC Ltd has entered into binding agreements to sell 10 per cent of the fully diluted paid-up share capital of HDFC Capital Advisors Ltd (HDFC Capital) to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for approx. Rs 184 crores,” the company said in a regulatory filing.
Deepak Parekh, Chairman – HDFC Ltd, 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. Supported by marquee global investors like ADIA, the funds managed by HDFC Capital have grown to create one of the world’s largest private financing platforms for the development of affordable housing. This investment by ADIA will enable HDFC Capital to leverage ADIA’s global expertise and experience to further propel HDFC Capital towards becoming a leading investment platform for global and local investors across multiple strategies and asset classes in the real estate and technology ecosystem.”
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