BPEA EQT led consortium acquires HDFC Credila

  • Deal
  • June 22, 2023

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.