BPEA EQT, alongside co-investor ChrysCapital have agreed to acquire a 90 percent stake of HDFC Credila (“Company“) through a combination of acquisition from its parent company Housing Development Finance Corporation Ltd. (“HDFC“) and primary infusion collectively amounting to approximately INR 11,000 crores (~USD 1.35 billion). Post the transaction, HDFC will retain a 9.99 percent stake. HDFC Group is one of India’s leading financial conglomerates with interests in housing finance, banking, life insurance, general insurance, asset management, real estate venture funding, and education loans. The closing of the deal will be subject to receipt of the RBI and CCI approvals.
HDFC Credila is the country’s first and largest dedicated education loan company, supporting tens of thousands of Indian students every year with tailored financing solutions for undergraduate and postgraduate studies.
The transaction is the largest ever private equity buyout in the Indian financial services sector.
Deal Value: INR 11,000 crores (USD 1.35 billion)
Our Lead Partners are Vikram Raghani and Anand Lakra.
Our Transaction Team Partner – Niharika Mepani, Senior Associate – Ami Shah, Associate – Jinay Shah, Dhruval Sheth, and Junior Associate – Shreya Shinde.
Our Competition Law Team Partner & Head of Practice (Competition Law) – Vaibhav Choukse, Senior Associate – Nripi Jolly and Aditi Khanna, and Associate – Faiz Siddiqui.
Sector-specific inputs by Partner – Pratish Kumar and Associate – Sonali Singh.
Our Transaction Team was also supported by Partner – Utsav Johri, Partner –Yajas Setlur, Principal Associate – Megha Upadhyaya, Senior Associate – Harshit Dusad, Senior Associate – Sahil Unadkat, Associate – Moushami Nayak, Shivani Bhatnagar, and Vrindesh Patel.
Anand is an equity partner at JSA’s Mumbai office. His practice includes private and public M&A, private equity, venture capital and capital market transactions, with a particular focus on securities law matters.
Pratish focuses on financing transactions, trade finance, securitisation and financial regulatory advices. He advises on all kinds of debt transactions, debt instruments and structured finance products.
Utsav is a banking partner in the Mumbai office of the firm. His practice focus on structured finance, acquisition finance, leveraged buyouts, cross border finance, real estate financing, debt restructuring and debt capital markets.
Vaibhav is a Partner with Firm’s Competition Law Practice with over 15 years’ experience.
Vikram is a Partner with the Corporate Practice at JSA. His areas of practice include mergers & acquisitions, private equity and securities laws (including capital markets). He has been involved in private equity and mergers & acquisitions transactions also focusing on public market investments and M&A.
Yajas is a member of JSA’s technology, media, and telecommunications (TMT) practice. In this capacity, he advises clients extensively on various aspects of Indian information technology, data privacy and e-commerce laws.