Mumbai: India’s largest mortgage lender Housing Development Finance Corporation (HDFC) has bought a 41% stake in education loan provider Credila Financial Services Pvt. Ltd. The stake in the privately held company, valued at about Rs10 crore, has been bought from DSP Merrill Lynch Capital Ltd.
“We see business and social opportunity here and would like to grow this business as student loan segment is growing at 25-30% annually,” said V.S. Rangan, senior general manager treasury of HDFC. Credila has so far disbursed about Rs20 crore in education loans over the past two-three years, Rangan said.