HFDC to acquire 41 pc stake in Credila

12 December 2009

Mumbai: The country's leading mortgage lender Housing Development Finance Corporation (HDFC) is branching out to the education loan segment. HDFC has proposed to acquire about 41 per cent stake in the education loan provider HDFC Credila Financial Services held by DSP Merrill Lynch Capital. "The corporation has agreed to acquire approximately 41 per cent in the fully diluted equity share capital of HDFC Credila Financial Services from DSP Merrill Lynch Capital Ltd,? HDFC said. The acquisition of stake is subject to compliance with applicable regulations, it added. The company, however, did not disclose further details in this regard. DSP Merrill Lynch Capital Ltd is a minority investor in HDFC Credila Financial Services. HDFC shares closed at Rs 2,758.45, up 0.54 per cent from its previous close on the BSE.