NBFC-giant
Housing Development Finance Corporation (HDFC) has entered into a share purchase agreement for the sale of 47,75,241 equity shares of Re1 each - representing 24.48% of the issued and paid-up share capital of Good Host.
The sale involves cash consideration of Rs232.81cr which is subject to various customary adjustments as agreed between the parties, and the final sale consideration shall be calculated accordingly.
HDFC expects the share sale to complete within 4 months period.
Good Host is principally engaged in providing hostel services, guest house services, service apartments and leasing of property for hostel services.
At around 2.27 pm, HDFC was trading at Rs2660.25 per piece down by Rs28.50 or 1.06% on Sensex.