Shriram Finance Looking To Sell 15% Stake In Housing Arm For $121 Million: Report
NDTV
Shriram Housing Finance Ltd., which offers home loans, largely in the affordable housing segment, has received interest from several private equity players, including BPEA EQT, formerly Baring PE Asia.
Shadow lender Shriram Finance is looking to pare as much as 15% stake in its housing finance arm at a valuation of 10 billion rupees ($121.35 million), two senior sources with direct knowledge of the matter told Reuters.
Shriram Housing Finance Ltd., which offers home loans, largely in the affordable housing segment, has received interest from several private equity players, including BPEA EQT, formerly Baring PE Asia.
"The equity infusion will likely be to the tune of 10 billion rupees ($121.46 million)," the first source said, requesting anonymity. The company could take a final call on the deal by March-end after evaluating all the offers, the person added.
Shriram Housing Finance is a unit of Shriram Finance, one of India's largest non-banking finance companies formed by the merger of Shriram Capital, Shriram City Union Finance and Shriram Transport Finance in November.
