Hdfc Bank (HDB) has released an update.

HDFC Bank has approved the sale of its entire 100% stake in HDFC Education and Development Services Private Limited (HDFC Edu) to Vama Sundari Investments (Delhi) Private Limited. The divestment, which is a related party transaction and at arm’s length, is in response to an RBI mandate and will be completed in stages, with 91% of the stake sold by October 2024 and the remainder by June 2025. The all-cash deal for the sale of shares is priced at Rs. 9.60 per share, totaling Rs. 192 crore, and will result in HDFC Edu no longer being a subsidiary of HDFC Bank.

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