Thursday, December 1News That Matters
Shadow

Tag: Premji

GIC, KKR, Premji Group to invest Rs 11,000 crore in HDFC Ltd

GIC, KKR, Premji Group to invest Rs 11,000 crore in HDFC Ltd

Finance
MUMBAI: India's largest mortgage lender HDFC Ltd has bagged a Rs 11,104 crore investment from marquee investors - like private equity giant GIC Singapore, KKR, Canadian pension plan Ontario Municipal Employees Retirement System, Carmignac Group and Premji Invest. This would lead to a stake dilution of 3.87%. The preferential allotment will be made at a share price of Rs 1,726.05 per share to 10 investors. The mortgage lender was trading at Rs 1,761.25 at the end of trade on Friday. HDFC board also approved raising Rs 1,896 crore through a Qualified Institutions Placement (QIP) which will be completed within 12 months. "The Committee of Directors of the Corporation at its meeting held today approved the issue of equity shares up to an aggregate amount not exceeding Rs 13,000 crore t...