HDFC kick-starts $1 billion Credila sale by picking Jefferies as adviser, sources say

The Reserve Bank of India has given the merged entity two years to cut its stake in fully-owned Credila to 10%, HDFC Bank said in an exchange filing last month. The sale mandate will be one of the biggest managed by Jefferies in the country and will help in its ambition to build a deal advisory business in the local market.

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