Private equity giant KKR & Co will offload around 1.14 crore shares, or 0.42 per cent stake, in India’s most valuable lender HDFC BankNSE -0.48 % through a bulk deal on April 10, according to bankers. There are expectations that the offer price will be up to 3 per cent discount to Tuesday’s closing price of Rs 2,287.25. The deal is expected to fetch about Rs 2,614 crore to KKR.
For KKR, the deal will be yet another monetisation of its India investments. The firm has sold shares in Magma FincorpNSE -0.62 % and Coffee Day Enterprises last year. The fund has invested more than $9 billion in India since 2009, through private equity, structured credit as well as real estate investments.
HDFC Bank which gained about 7 per cent so far this year announced last week it will raise up to Rs 50,000 crore this financial year by issuing bonds on a private placement basis.
KKR along with Government of Singapore Investment Corp is also planning to sell its stake in India’s largest mortgage lender, Housing Development Finance Corporation.
For KKR, the deal will be yet another monetisation of its India investments. The firm has sold shares in Magma FincorpNSE -0.62 % and Coffee Day Enterprises last year. The fund has invested more than $9 billion in India since 2009, through private equity, structured credit as well as real estate investments.
HDFC Bank which gained about 7 per cent so far this year announced last week it will raise up to Rs 50,000 crore this financial year by issuing bonds on a private placement basis.
KKR along with Government of Singapore Investment Corp is also planning to sell its stake in India’s largest mortgage lender, Housing Development Finance Corporation.
1 Comments
Thanks for sharing valuable information.
ReplyDeleteBEML Ltd
IndusInd Bank Ltd
Kokuyo Camlin
Stocks