Argus Partners Advises HDFC Limited In Their 10% Stake Sell In HDFC Capital Advisors To Abu Dhabi Investment Authority (ADIA)
LIVELAW NEWS NETWORK
21 April 2022 11:52 AM GMT
Argus Partners has advised HDFC Limited in inking the landmark deal wherein HDFC Limited has entered into an agreement to sell 10% of the fully diluted paid-up share capital of its wholly owned subsidiary, HDFC Capital Advisors, to an affiliate of the Abu Dhabi Investment Authority (ADIA) for around Rs. 184 Crores.
This deal marks the first instance where a sovereign wealth fund has acquired a stake in an Indian General Partner (GP). (Source: Indian Venture and Alternate Capital Association)
Speaking on the development, Deepak Parekh, Chairman, HDFC Limited, said, "This investment by ADIA will enable HDFC Capital to leverage ADIA's global expertise and experience to further propel HDFC Capital towards becoming a leading investment platform for global and local investors across multiple strategies and asset classes in the real estate and technology ecosystem." (Source: LiveMint)
Further, according to Mohamed AlQubasi, Executive Director of the Real Estate Department, ADIA, this agreement would build on ADIA`s successful investments in the H-CARE funds and underline their belief in the positive long-term outlook for affordable and mid-market housing in India. (Source: LiveMint)
The Argus Team consisted of Adity Chaudhury (Partner), Kshitija Naik, Prashant Motsara (Senior Associates) and Tushar Oberoy, Jinansh Shah (Associates).
