Suspense Crime Sach Ka Dam
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A consortium of BPEQ Equity, Kris Capital and Faring Capital has emerged as the leading contender to buy a majority stake in education loan provider HDFC Credila as part of RBI’s requirements for the HDFC-HDFC Bank merger. ,
Ahead of its merger with HDFC Bank in April, the banking regulator had directed HDFC to reduce its stake in its subsidiary HDFC Credila to below 10 per cent in two years without accepting a single new customer. Established in 2006, HDFC Credila is India’s first dedicated player in the education loan segment. According to one of the sources, several PEs have shown keen interest in the deal. Currently, a combination of BPEA Equity, Chris Capital and Fairing Capital is seen as better than others. A source said that together they want to jointly acquire more than 90 per cent stake in HDFC Credila. If the talks go well, the deal is likely to be signed in the next few weeks. Two other circles are also supporting this development.
