Has pandemic killed co-loving industry? HDFC sells entire stake in this student housing provider
New Delhi: Wit the corona pandemic blurring prospects of co-living industry, HDFC has decided to sell its stake in Good Host for Rs 233 crore. Good Host is the business of managing students house facilities.
HDFC has entered into an agreement for the sale of 24.28 percent of its stake in Good Host. As per the agreement, HDFC will sell 47,75,241 equity shares, each priced at Re 1, to representing 24.5 percent of the issued and paid-up share capital of Good Host, HDFC said in a regulatory filing.
Good Host reported a turnover of Rs 112 crore in financial year 2019-20. With the sale of 24.28 percent stake, Good Host will no longer be an associate company of HDFC.
HDFC did not mention the buyer in the filing.