HDFC divests 90% of Credila

HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services.

  • It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital
  • Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about Rs 10,000 cr.
  • It will continue to retain the balance stake of less than 10%
  • Credila reported revenues of Rs 1,352 cr in FY 23 and had a Net Worth of Rs 2,435 cr as at March 31, 2023

As expected, divestment seems to have been done at good valuations by HDFC.

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