Business and Finance Business and Finance
Wed, December 11, 2024
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[ 09:40 PM ] - United States, The Financial Express
Shriram Finance completes sale of housing finance arm

Shriram Finance completes sale of housing finance arm


Published on 2024-12-11 21:40:49 - The Financial Express
  Print publication without navigation
  • Shriram Finance on Wednesday announced the completion of the sale of its entire stake of 84.44% in its housing finance subsidiary, Shriram Housing Finance (SFHL), to Warburg Pincus, a leading global growth investor firm, for a consideration of Rs 3,929 crore, the company said.
Shriram Finance Ltd has completed the sale of its housing finance subsidiary, Shriram Housing Finance Ltd (SHFL), to Warburg Pincus for an enterprise value of Rs 4,630 crore. This transaction, which was first announced in May 2023, involved the sale of SHFL to Mango Crest Investment Ltd, a Warburg Pincus affiliate. The deal was executed through a combination of primary and secondary share sales, with Shriram Finance receiving Rs 3,900 crore in cash, and the remaining Rs 730 crore being infused by Warburg Pincus as primary equity into SHFL. This move allows Shriram Finance to focus on its core businesses while providing SHFL with the resources to expand its operations under new ownership.

Read the Full The Financial Express Article at:
[ https://www.financialexpress.com/business/banking-finance-shriram-finance-completes-sale-of-housing-finance-arm-3689819/ ]
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