{"id":44412,"date":"2024-09-30T09:00:01","date_gmt":"2024-09-30T09:00:01","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=44412"},"modified":"2024-09-30T09:00:32","modified_gmt":"2024-09-30T09:00:32","slug":"sng-partners-assists-hdfc-credila-financial-services-limited-with-inr-2500-approx-crore-fundraise","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/sng-partners-assists-hdfc-credila-financial-services-limited-with-inr-2500-approx-crore-fundraise\/","title":{"rendered":"SNG & PARTNERS ASSISTS HDFC CREDILA FINANCIAL SERVICES LIMITED WITH INR 2500 (APPROX) CRORE FUNDRAISE"},"content":{"rendered":"

SNG & Partners advised and assisted HDFC Credila Financial Services Limited (HDFC Credila) in raising\u00a0an estimated amount of\u00a0INR 2500 crore.<\/strong>HDFC Credila raised the funds in two separate issuances wherein it raised INR 1500 crores approx. from South Korea\u2019s Shinhan Bank (the lender of South Korea\u2019s second-largest financial institution Shinhan Financial Group) and balance from a rights issue.<\/span><\/p>\n

HDFC Credila Financial Services Limited is a non-banking financial company dedicated to education loans. HDFC Credila was earlier a subsidiary of HDFC Limited and came under the HDFC Bank umbrella post merger.\u00a0 Earlier this year, HDFC Bank had sold a 90 per cent stake in HDFC Credila to comply with regulatory guidelines related to the merger, wherein RBI asked HDFC Bank to pare its stake in the education loan subsidiary to 10 per cent within two years of the merger.<\/p>\n

The\u00a0firm advised\u00a0in\u00a0structuring and\u00a0negotiating the terms of the transactions, ensuring compliance with regulatory requirements while optimizing financial outcomes for the client.<\/p>\n

\u00a0Mr. Amit Aggarwal, <\/em><\/strong>[Managing Partner \u2013 Corporate & Non-Contentious Practice], provided strategic inputs and the transaction team was led by Mr. Aditya Vikram Dua <\/strong>(Partner), along with Devyani Dhawan <\/strong>(Of Counsel), Aniket Sawant <\/strong>(Principal Associate), Ayushi Parnami <\/strong>(Senior Associate) and Rachit Munjal <\/strong>(Senior Associate).<\/em><\/p>\n

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