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

By: |
New Delhi | August 21, 2018 7:00 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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Sensex soars 432 points on Thursday; banks, metal stocks shine
2Reiterate ‘buy/SO’ on Reddy’s Lab with TP of Rs 5,730
3Stocks in focus: Yes Bank, Lakshmi Vilas Bank, DHLF, FMCG shares, Mahindra and Mahindra