Select Page

HDFC Bank has decided to sell its 100 per cent stake in HDFC Education and Development Services Private Ltd.

The transaction will be undertaken through the Swiss challenge method, HDFC Bank said in a regulatory filing on Saturday.

“In this regard, HDFC Bank has, on March 30, 2024, entered into a binding term sheet with an interested party, and the offer contained in such term sheet shall serve as the anchor/base bid to seek counter offers from other parties interested in participating in the aforesaid Swiss challenge process,” it added.

HDFC Bank will finalise the purchaser on the basis of the completion of the Swiss challenge process, it said, adding that after which the bank and successful bidder would enter into definitive documentation for the purposes.

HDFC Education is engaged in providing services to three education schools, it said.

  • Published On Mar 31, 2024 at 03:40 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETBFSI App

  • Get Realtime updates
  • Save your favourite articles

icon g play

icon app store

Scan to download App
bfsi barcode

Share it on social networks