A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) is picking up a 10 per cent stake in HDFC Capital for Rs 184 crore.
Set up in 2016, HDFC Capital is a wholly owned subsidiary of HDFC which manages private equity funds focused on the real estate sector. It also invests in technology companies in real estate.
The HDFC arm manages three funds which plans to invest $3 billion in affordable homes in the country. ADIA itself is the primary investor in the alternative investment funds managed by HDFC Capital. The transaction values HDFC Capital at Rs 1,840 crore.
The announcement of the transaction on Wednesday led to a rally in the shares of HDFC . The scrip ended at Rs 2,181.70 on the BSE — a gain of Rs 43.05 or 2 per cent over the previous close.
Canada funds
Global buyout major KKR on Wednesday announced that Ontario Teachers’ Pension Plan Board has committed to invest up to $175 million in its road projects in India. The road platform of KKR comprises 12 assets, including six that are proposed to be acquired for which definitive agreements have been signed.
These include 910km of toll roads in 11 states — Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Rajasthan, Tamil Nadu, Telangana and West Bengal. There is significant potential to scale, with plans to acquire more assets, an official statement said, adding the investment from Ontario Teachers’ is expected to be completed by September.
