HDFC sells company that spawned education loan business

HDFC Bank announced the sale of its education loan subsidiary, HDFC Credila, for Rs 9,552 crore to a group of investors led by Baring Private Equity Asia and ChrysCapital. This move valued the company at Rs 10,350 crore. The sale was triggered by a regulation prohibiting the bank from owning its acquired education loan entity post its merger with parent company HDFC last year.

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