Indiabulls Housing Finance in talks with PEs to sell 15-20% stake

Investor to become single-largest shareholder; Sameer Gehlaut likely to step down as promoter

Indiabulls Housing Finance has begun talks with a few private equity (PE) investors such as Apollo Global, TPG, and Brookfield for selling a significant stake. The deal value is being pegged at Rs 2,000 crore. Sources in the know said due diligence is expected to gather momentum in April. 

The new investor will become the single-largest shareholder of Indiabulls Housing, having at least two to three members on the board and will also participate in its day-to-day functioning. Emails to Indiabulls Housing remained unanswered till the time of going to press.

In an important precursor to the transaction, Indiabulls Housing would reduce