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Jun 23, 2023

Housing Development Finance Corporation Limited and HDFC Credila Financial Services Limited on the divestment of a 90% stake in HDFC Credila to BPEA EQT and ChyrsCapital

AZB & Partners is acting for Housing Development Finance Corporation Limited (‘HDFC Ltd’) and HDFC Credila Financial Services Limited (‘HDFC Credila’) on the divestment of a 90% stake in HDFC Credila to BPEA EQT and ChyrsCapital for approximately USD 1.3 billion by way of secondary sale and primary infusion. HDFC Credila is one of the largest non‐bank lenders in the Indian education financing market. The proposed transaction is the largest private equity buyout in the financial services sector.

Our deal team comprises of our Senior Partners Nandish Vyas and Varoon Chandra, Senior Associates Anshuman Bharadwaj and Tanay Chopra, Associates Priyasha Goyal, Manhar Chaudhary and Avani Jain, along with Jay Singhee and Riya Gupta.

Our other practice area teams comprise of our Partners Ajay Singh Solanki and Nishanth Ravindran, Associates Devershi Mishra and Thangam Chandy on the employment law aspects; Senior Associate Sudeshna Panigrahi, Associates Rhea Ghanshani and Adyasha Samal on the IP aspects; Associates Jay Singhee and Avani Jain on the financing aspects; Associate Prateek Jariwal on the real estate aspects; with assistance from our Associates Vaishnavi Kanchan (she/her), Akanksha Khandelwal and Prachi Kulkarni on the regulatory and corporate aspects.

Our competition team comprises of our Partner Bharat Budholia, Senior Associate Shivam Jha, Associates Yavipriya Gupta and Atish Ghoshal.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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