HDFC announces a 41% stake in Credila

Submitted by Anuj Gupta on Sat, 11/14/2009 - 19:21

HDFC, India's major mortgage lender will soon purchase approximately 41% stake in the HDFC Credila Financial Services. The corporation has decided to buy stake in the privately owned company from DSP Merrill Lynch Capital Ltd.

In a proclamation, the financial major said that the acquirement of the equity stake is subject to compliance with appropriate norms.

DSP Merrill Lynch Capital Ltd holds a minority equity stake in HDFC Credila Financial Services, which is an education loan provider.

Stock of Housing Development Finance Corporation Ltd settled the day on Friday (13 Nov) at Rs 2,758.45, up 0.54 per cent on Bombay Stock Exchange (BSE).

Source : http://www.stockwatch.in/hdfc-plans-purchase-41-stake-credila-financial-24085