<p>Mortgage lender HDFC Ltd on Wednesday said it will acquire nearly 20 per cent stake in Renaissance Investment Solutions ARC (asset reconstruction company) Private Ltd for Rs 49.8 lakh.</p>.<p>HDFC Ltd on Wednesday entered into agreements for investment in Renaissance Investment Solutions ARC Private Limited, the company said in a regulatory filing.</p>.<p>The investment would result in holding of 4,98,750 equity shares of Rs 10 each representing 19.95 per cent of Renaissance Investment Solutions ARC's share capital for a total consider ation of Rs 49,87,500, the filing said.</p>.<p>Renaissance Investment will undertake the business of asset reconstruction subject to receipt of approval from the Reserve Bank of India (RBI), it said.</p>.<p>Renaissance Investment was incorporated as a private limited company under the Companies Act, 2013 and certificate of incorporation was issued by the Registrar of Companies, Mumbai on October 28, 2020, it said.</p>.<p>No governmental or regulatory approvals are required for the said investment, it said, adding, approval of the RBI is required for Renaissance Investment to commence the business of asset reconstruction.</p>
<p>Mortgage lender HDFC Ltd on Wednesday said it will acquire nearly 20 per cent stake in Renaissance Investment Solutions ARC (asset reconstruction company) Private Ltd for Rs 49.8 lakh.</p>.<p>HDFC Ltd on Wednesday entered into agreements for investment in Renaissance Investment Solutions ARC Private Limited, the company said in a regulatory filing.</p>.<p>The investment would result in holding of 4,98,750 equity shares of Rs 10 each representing 19.95 per cent of Renaissance Investment Solutions ARC's share capital for a total consider ation of Rs 49,87,500, the filing said.</p>.<p>Renaissance Investment will undertake the business of asset reconstruction subject to receipt of approval from the Reserve Bank of India (RBI), it said.</p>.<p>Renaissance Investment was incorporated as a private limited company under the Companies Act, 2013 and certificate of incorporation was issued by the Registrar of Companies, Mumbai on October 28, 2020, it said.</p>.<p>No governmental or regulatory approvals are required for the said investment, it said, adding, approval of the RBI is required for Renaissance Investment to commence the business of asset reconstruction.</p>