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India's Housing Development Finance buys remaining stake in unit

Housing Development Finance Corp. Ltd. closed the acquisition of the 9.12% remaining stake in unit HDFC Credila Financial Services Pvt. Ltd. for 3.95 billion rupees.

Under the transaction, Housing Development Finance bought 11,470,000 shares of HDFC Credila from Ajay Bohora and Anil Bohora, according to a Dec. 12 filing. Following the acquisition, HDFC Credila became a wholly owned subsidiary of the company.

As of Dec. 12, US$1 was equivalent to 70.64 Indian rupees.