Ajay Bohora was at a conference in the US in 2005 and people here couldn't stop talking about the private student loan market. He wanted to build a more robust business that could leverage this opportunity. So Cradilla Financial Services was born in 2006. But last year HDFC decided to merge itself with its banking counterpart HDFC Bank. The ultimatum was to sell at least 90% of the business within 2 years.