HDFC Bank divests 100% stake in HDFC Edu for Rs 192 crore:

Daily Current Affairs / HDFC Bank divests 100% stake in HDFC Edu for Rs 192 crore:

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Category : Business and economics Published on: October 11 2024

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India's largest private sector lender HDFC Bank said that its board has approved 100% stake sale of subsidiary HDFC Education to Vama Sundari Investments in an all-cash deal amounting to Rs 192 crore. The sale price is Rs. 9.60 per share.
In an exchange notification, the lender said it would divest a 91% stake in HDFC Edu on or before October 31, 2024,
and the remaining 9% stake will be divested before June 30, 2025. With this sale HDFC Edu would cease to be a subsidiary of the bank.