Housing Development Finance Corporation (HDFC) on June 22 announced that it has made fresh investments in home interior brand Bonito Design, and Cognilements Pvt Ltd, also known as Relata, which provides tech solutions to real estate businesses.
HDFC said it has "executed definitive agreements for subscription of 6,068 equity shares of Bonito". This has granted the company a shareholding of 3.86 percent, and voting rights of 5.13 percent, the regulatory filing stated.
The stake in Bonito has been acquired in an all-cash deal, at a price of Rs 41,196 per equity share resulting in an aggregate consideration of Rs 25 crore, it added.
In Relata, the investment has been made via HDFC Capital Advisors Ltd (HCAL), a subsidiary of the corporation, which has "entered into a Share Subscription Agreement for acquisition of 914 Compulsorily Convertible Preference (CCPS) shares".
Post allotment, the CCPS would entitle HCAL to approximately 4 to 7 percent of the equity share capital of Relata on a fully diluted basis, HDFC said. A total of 914 CCPS are being acquired, priced at 21,872 each, it added.
Stake Sales
HDFC also informed the exchanges that it has divested its entire stake of 9.65 percent in Ruralshores Business Services Pvt Ltd. The business processing outsourcing company recently provided a buyback offer to its shareholders, on the basis of which HDFC "had offered its entire stake i.e. 2,66,351 equity shares of Rs 10 each, representing 9.65 percent of the paid-up share capital" for sale.
"The corporation has today i.e. on June 22, 2023, received a confirmation regarding acceptance of the same from Ruralshores," HDFC stated.
The housing finance giant further noted that its sale of 10 lakh equity shares of HDFC Property Ventures Limited (HPVL) and 5 lakh equity shares of HDFC Venture Capital Limited (HVCL) -- both are its subsidiaries -- to Vividh Distributors and its nominees was "completed on June 21". The stake sale in HPVL has fetched HDFC an amount of Rs 1.20 crore, and the sale of shares in HVCL fetched Rs 0.30 crore.
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