HDFC Bank Finalises $1.15 Bn Stake Sale In HDFC Credila

HDFC Bank has successfully finalised the sale of its stake in the education finance subsidiary, HDFC Credila, for a substantial sum of 95.53 billion rupees (USD 1.15 billion). Private equity firms BPEA EQT and ChrysCapital have acquired the stake, concluding a deal that was initially announced in June of the previous year. This transaction was necessitated by regulatory requirements prior to the merger of mortgage lender Housing Development Finance Corp with HDFC Bank.

The completion of this deal precedes HDFC Bank's forthcoming fourth-quarter results, which are due next month. While the bank reported better-than-expected profits in the third quarter, analysts highlighted concerns over its margins and liquidity pressures, leading to a notable decline in its share price.