HDFC Bank announced on Wednesday the successful sale of its stake in education finance arm HDFC Credila for 95.53 billion rupees ($1.15 billion) to private equity firms BPEA EQT and ChrysCapital.
The transaction, which was disclosed in June last year, was a regulatory requirement to be fulfilled before the merger of mortgage lender Housing Development Finance Corp with HDFC Bank.
The completion of this deal precedes HDFC Bank’s upcoming fourth-quarter results, expected next month.
Despite HDFC Bank’s third-quarter profit surpassing expectations, analysts noted concerns about its margins and liquidity pressures, leading to a significant decline in its share price.
