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HDFC sells 6.3% equity in CAMS to Warburg Pincus arm for Rs 210 cr

HDFC said its associate HDFC Bank is also a shareholder in CAMS

Press Trust of India  |  New Delhi 

HDFC sells 6.3% equity in CAMS to Warburg Pincus arm for Rs 210 cr

Mortgage lender Ltd on Wednesday said it has sold 6.3 per cent of equity in (CAMS) to affiliate company for Rs 209.50 crore.

"Computer Age Management Services (CAMS) is the target entity whose shares are being sold by the Corporation Ltd (HDFC)," said in a regulatory filing.

is the US-based private equity investing firm.

Further, said its associate is also a shareholder in CAMS, who is also selling a part of its shareholding in to the same purchaser at the same price at which the Corporation is selling its share in

HDFC said it has been an investor in since 2000 and has decided to sell part of its shareholding in CAMS to Great Terrain Investment Ltd, Mauritius, an affiliate of group, amounting to 6.3 per cent of CAMS's equity share capital, it added.

"After completion of the sale, the Corporation would continue to hold 4.8 per cent of the equity share capital of CAMS," it added.

The mortgage lender said the deal which is an all cash consideration is expected to be completed by January 31, 2018. CAMS is a registrar and transfer agent that offers physical touch point for receipt, verification and processing of financial and non-financial transactions.

It is also engaged in services related to mutual funds, insurance, venture funds, banks and

HDFC shares closed 0.98 per cent lower at Rs 1692.90 on BSE today.

First Published: Wed, December 20 2017. 22:35 IST