Business and Finance
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Business and Finance
by (remove) : The New Indian Express
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Wed, December 11, 2024
[ 11:40 PM ] - United States, The New Indian Express
Shriram Finance concludes sale of housing loan arm

Shriram Finance concludes sale of housing loan arm


Published on 2024-12-11 23:40:53 - The New Indian Express
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  • Shriram Finance, the flagship company of the Shriram group, on Wednesday announced the completion of the sale of its entire stake (84.44% of the shar

Shriram Finance has successfully completed the sale of its housing finance subsidiary, Shriram Housing Finance Limited (SHFL), to Warburg Pincus for an enterprise value of Rs 4,630 crore. The transaction, which was first announced in May, involved the sale of SHFL to Mango Crest Investment Ltd, a Warburg Pincus affiliate. This move is part of Shriram Finance's strategy to streamline its operations and focus on its core business areas. The sale was executed through a combination of share purchase and subscription agreements, with the deal being finalized on December 12, 2024. This divestiture allows Shriram Finance to concentrate on its primary financial services while providing SHFL with new growth opportunities under Warburg Pincus's management.

Read the Full The New Indian Express Article at:
[ https://www.newindianexpress.com/business/2024/Dec/12/shriram-finance-concludes-sale-of-housing-loan-arm ]

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