Money & Banking

HDFC to sell 24.48 per cent stake in Good Host Spaces

Our Bureau Mumbai | Updated on January 21, 2021

The company expects to complete the stake sale in four months for a cash consideration of ₹232.81 crore

Housing Development Finance Corporation (HDFC) said it plans to sell 24.48 per cent stake in Good Host Spaces Pvt. Ltd for a cash consideration of ₹232.81 crore.

In a regulatory filing, HDFC said it has entered into a share purchase agreement for sale of 47,75,241 equity shares of ₹1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host.

The Corporation expects to complete the sale of its take in Good Host, which provides hostel services, guest house services, service apartments and leasing of property for hostel services, in four months.

As per the filing, the sale is subject to various customary adjustments as agreed between the parties, and the final sale consideration shall be calculated accordingly.

Subsequent to the above sale, Good Host would cease to be an associate company of the Corporation.

For the financial year ending on March 31, 2020, the consolidated revenue of Good Host aggregated to ₹ 112.60 crore and the balance sheet size was ₹1,765.13 crore.

Published on January 21, 2021

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