Deal Street

January 17, 2018

HDFC raises Rs 11,104 crore from investors


The Housing Development Finance Corp Ltd (HDFC) has managed to raise Rs 11,104 crore from its investors which comprises of KKR, GIC, Ontario Municipal Employees Retirement System, Carmignac Group and Premji Invest.

“The allotment shall be completed within a period of 15 days from the date of passing of a special resolution by the shareholders through postal ballot,” stated a notification.

Wadia Ghandy & Co acted upon HDFC, led by Partners Ashish Ahuja and Saurabh Raman.

KKR’s team took the services of AZB & Partners in the deal comprising of Partners Darshika Kothari, Rushabh Maniar, Nilanjana Singh and Anand Shah along with Senior Associate Ishan Handa.

Nishith Desai Associates with a team led by Partners Shreyas Bhushan and Nischal Joshipura is advising the team of General Insurance Corporation (GIC).

On 19 December 2017, the HDFC had announced that it would be raising up Rs 13,000 crore for infusing funds into its subsidiary HDFC Bank Ltd and for growing its affordable housing business.

HDFC will be infusing up to Rs 8,500 crore in HDFC Bank in order to maintain its shareholding above 21%.

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