HDFC Ltd has entered into binding agreements to sell 10 per cent of the share capital of HDFC Capital Advisors Ltd (HDFC Capital) to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs 184 crore.
ADIA is also the primary investor in the alternative investment funds managed by HDFC Capital. HDFC Capital is a wholly-owned subsidiary of Housing Development Finance Corporation Ltd (HDFC Ltd). It is in the business of managing private equity funds focused on the real estate sector in India. HDFC Capital also seeks to promote innovation and the adoption of new technologies within the real estate sector by investing in and partnering with technology companies.
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The funds managed by HDFC Capital provide long-term, flexible funding across the lifecycle of affordable and mid-income housing projects, including early-stage funding. In addition, the funds will also invest in technology companies(construction technology, fin-tech, clean-tech etc.) engaged in the affordable housing ecosystem.
