Housing Development Finance Corporation Limited entered into an agreement to acquire remaining 19.5% stake in HDFC Venture Capital Limited from State Bank of India for INR 9.75 million.

Housing Development Finance Corporation Limited (BSE:500010) entered into an agreement to acquire remaining 19.5% stake in HDFC Venture Capital Limited from State Bank of India (NSEI:SBIN) for INR 9.75 million on July 29, 2022. The consideration will be paid in cash. After the acquisition HVCL would become a wholly owned subsidiary of Housing Development Finance Corporation Limited (BSE:500010).

For the Year ended March 31, 2022, HDFC Venture Capital Limited reported Revenue of INR 1.01 million. The acquisition is expected to be closed on August 12, 2022.