HDFC buys over 25% stake in Good Host for Rs 70 crore

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New Delhi | Published: August 21, 2018 7:00:10 PM

Mortgage lender HDFC Ltd today said it has acquired over 25 per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 69.5 crore.

HDFC, HDFC stake in good host, bse, HDFC equity shares, HDFC sharesShares of HDFC closed at Rs 0.38 per cent down at Rs 1,912.70 on BSE.

Mortgage lender HDFC Ltd today said it has acquired over 25 per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 69.5 crore. HDFC is acquiring 30,52,469 equity shares of Good Host for a consideration of Rs 69,50,00,000 representing 25.01 per cent of its share capital from Manipal Integrated Services Pvt Ltd, HDFC said in a regulatory filing. The acquisition, on a cash consideration basis, is expected to be completed by September, it added.

Good Host operates and manages hostel facilities for educational/training institutions in Jaipur and Udupi. The company reported a turnover of Rs 53.1 crore for 2017-18. In 2016-17, the turnover stood at Rs 8.6 crore and that in 2015-16 it was Rs 6.5 crore. Shares of HDFC closed at Rs 0.38 per cent down at Rs 1,912.70 on BSE.

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