HDFC To Sell 10% Stake in HDFC Capital to ADIA Subsidiary for Rs184 Crore
Moneylife Digital Team 20 April 2022
HDFC Ltd has entered into binding agreements to sell its 10% stake in its subsidiary HDFC Capital Advisors Ltd (HDFC Capital) to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs184 crore. ADIA is also the primary investor in the alternative investment funds (AIFs) managed by HDFC Capital. 
 
In a statement, Deepak Parekh, chairman of HDFC, says, "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."
 
Set up in 2016, HDFC Capital is the investment manager to HDFC Capital Affordable Real Estate Funds 1, 2 and 3, which are aligned with the Indian government's goal to increase housing supply and support the Pradhan Mantri Awas Yojana - 'Housing for All' initiative.
 
HDFC Capital manages about US$3bn (billion) funding platform which has recently been rated as one of the world's largest private finance platforms focused on the development of affordable housing. 
 
Mohamed AlQubaisi, executive director of the real estate department at ADIA, says, "HDFC Capital is one of India's leading providers of affordable housing project finance, with an established track record of supporting the development of new residential stock across the country. This agreement builds on our successful investments in the H-CARE funds and underlines our belief in the positive long term outlook for affordable and mid-market housing in India."
 
The company says funds managed by HDFC Capital provide long-term, flexible funding across the lifecycle of affordable and mid-income housing projects, including early-stage financing. In addition, the funds will also invest in technology companies, including construction technology, fin-tech, and clean tech engaged in the affordable housing ecosystem.
Comments
saharaaj
2 months ago
How many babies this Ma HDFC has ?
Free Helpline
Legal Credit
Feedback