HDFC to sell 10Percentage stake in HDFC Capital for Rs 184 cr

24 Apr 2022 , 01:34 AM

Housing Development Finance Corporation HDFC has entered into binding agreements to sell 10Percentage of the fully diluted paid-up share capital of HDFC Capital Advisors HDFC Capital to a wholly-owned subsidiary of the Abu Dhabi Investment Authority ADIA for approx Rs 184 crore ADIA is also the primary investor in the alternative investment funds managed by HDFC Capital HDFC Capital is a wholly owned subsidiary of HDFC and is in the business of managing private equity funds focused on real estate sector in India HDFC Capital is the investment manager to HDFC Capital Affordable Real Estate Fund 1 H-CARE 1 HDFC Capital Affordable Real Estate Fund 2 H-CARE 2 and HDFC Capital Affordable Real Estate Fund 3 H-CARE 3 which are registered with SEBI as a Category II Alternative Investment Funds These funds combine to create a US$ 3 billion platform targeting the development of affordable and mid-income housing in India