Abu Dhabi Investment Authority

HDFC divests 10% stake in HDFC Capital Advisors to ADIA for Rs 184 cr

The country's largest mortgage lender HDFC Ltd on Thursday said it has sold 10 per cent of its stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore.

HDFC Capital is a wholly owned subsidiary of HDFC and is in the business of managing private equity funds focused on the real estate sector in India.

The proceeds will be used to fund the acquisition of Viviana Mall in Thane on Mumbai's outskirts, said a source in the know

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The group had planned to launch a $1.2-billion venture with ADIA, wherein the partners were to raise the money in two tranches of $600 million each

The fibre optic unit, which was earlier part of Reliance Industries Limited's (RIL) subsidiary Reliance Jio, has a debt of Rs 87,296 crore, which includes suppliers' credit

ADQ, formerly known as Abu Dhabi Development Holding Co., will team up with Lulu to develop up to 30 hypermarket stores and other operations across the Arab world's most populous nation

With eight deals in four weeks, analysts were expecting the valuation of the firm to touch at least Rs 4.5 trillion

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The lawsuit, filed on Monday, comes at a time when the Union government is seeking foreign direct investment in India, promising ease of doing business to overseas investors.

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8th investment values firm at Rs 4.9 trn on equity value basis

Other recent investors in Jio Platforms are private-equity firms General Atlantic, Silver Lake, Vista Equity Partners, and KKR & Co Inc .

The fund already has commitments from two sovereign wealth funds-- Abu Dhabi Investment Authority and Singaporean Temasek

The fund will target both pre-stress as well as distressed opportunities