Mortgage lender HDFC Ltd has signed an agreement to sell its 24.48per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 232.81 crore, according to a regulatory filing. The corporation has today entered into a share purchase agreement for sale of 47,75,241 equity shares of Re 1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host, Housing Development Finance Corporation Ltd (HDFC) said in the late night regulatory filing on Wednesday.
HDFC said the aggregate sale consideration for the sale shares is Rs 232.81 crore which is subject to various customary adjustments as agreed between the parties, and the final sale consideration shall be calculated accordingly.