The HDFC Property Ventures (HPVL), a wholly owned subsidiary of Housing Development Finance Corporation (HDFC), has sold 50,000 equity shares of Rs 10 each, representing 50.00% of the issued and paid-up share capital of Magnum. Subsequent to the sale of entire stake in Magnum by HPVL, Magnum has ceased to be an associate of the Corporation.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
