HDFC Bank Expands Investment in Sewa Grih Rin to Support Women’s Homeownership

HDFC Bank Limited, a leading Indian private sector bank, announced its commitment to further supporting Sewa Grih Rin Limited (SGRL), a housing finance company dedicated to empowering women in the informal sector with property ownership. HDFC Bank has signed definitive agreements to invest an additional ₹ 17.33 crore in SGRL as part of a larger equity raise by the company.

Strengthening Commitment to Financial Inclusion

This strategic investment underscores HDFC Bank’s unwavering commitment to financial inclusion, particularly for underserved communities. By increasing its stake in SGRL, HDFC Bank is vital in driving women’s empowerment and economic participation. SGRL’s focus on providing accessible housing finance solutions aligns perfectly with HDFC Bank’s vision of fostering inclusive and sustainable growth.

Investment Details and Timeline

The proposed investment will see HDFC Bank’s ownership in SGRL increase by 1.81% (on a fully diluted basis) to a total of 3.51%. The transaction involves a cash consideration of ₹17.33 crore for partly paid-up equity shares. These shares will be fully paid in two tranches – an upfront payment of 25% upon allotment and the remaining balance due within 364 days of allotment. The entire transaction is expected to be finalised within seven months, subject to regulatory approval from the Reserve Bank of India (RBI).

About Sewa Grih Rin Limited

Sewa Grih Rin Limited (SGRL) is a distinguished housing finance company dedicated to providing financial solutions for underprivileged and low-income households, with a particular emphasis on women working in the informal sector. SGRL empowers women by enabling them to achieve their dream of owning a home, fostering financial independence and stability.

About HDFC Bank Limited

Incorporated in 1994, HDFC Bank is a publicly listed banking company. It is involved in providing a range of banking and financial services, including retail banking, wholesale banking and treasury operations.

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