NEW DELHI: Mortgage lender HDFC Ltd on Wednesday said it has sold 6.3 per cent of equity in Computer Age Management Services Pvt Ltd (CAMS) to Warburg Pincus affiliate company Great Terrain Investment Ltd for Rs 209.50 crore.
“Computer Age Management Services (CAMS) is the target entity whose shares are being sold by the Housing Development Finance Corporation Ltd (HDFC),” HDFC said in a regulatory filing.
Warburg Pincus is the US-based private equity investing firm.
Further, HDFC said its associate HDFC Bank is also a shareholder in CAMS, who is also selling a part of its shareholding in CAMS to the same purchaser at the same price at which the Corporation is selling its share in CAMS.
HDFC said it has been an investor in CAMS since 2000 and has decided to sell part of its shareholding in CAMS to Great Terrain Investment Ltd, Mauritius, an affiliate of Warburg Pincus 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 NBFCs.
HDFC shares closed 0.98 per cent lower at Rs 1692.90 on BSE today.
PTI