Current Affairs - Finance - Discussion

HDFC Bank has divested its entire stake in HDFC Education and Development Services Pvt. Ltd (HDFC Edu) to Vama Sundari Investments for ₹192 crore. The transaction, valued at ₹9.60 per share, is part of the bank's strategy to comply with regulatory requirements and streamline operations following the merger with HDFC Ltd. The divestment occurs in two phases, with 91% sold by October 31, 2024, and the remaining 9% by June 30, 2025. This move fulfils the Reserve Bank of India's directive for HDFC Bank to fully divest from HDFC Edu within two years of the merger.