DHFL promoters may sell half their stake; Wadhawan could give up MD post

The promoters have also roped in PE firm Oaktree, which is undertaking due diligence to consider taking over part of DHFL's wholesale loan portfolio of Rs 10,000-12,000 crore

The promoters of Dewan Housing Finance Corporation (DHFL) are willing to share control of the embattled company by selling half their stake to a "strategic investor". Kapil Wadhawan, who represents the promoters in the board, is also open to stepping down as managing director (MD) and keeping only the chairman’s position so that the company can be run jointly with the new partner. Currently, the Wadhawan family controls the housing finance firm with a 39.21 per cent holding. 

According to sources close to the deal, private equity (PE) firms Lone Star, KKR, and AION Capital (a joint venture between Apollo