 "Poonawalla Fincorp")
Poonawalla Fincorp (PFL) will sell its housing subsidiary Poonawalla Housing Finance (PHFL) to Perseus SG, an affiliate of private equity group TPG Global, at a valuation of Rs 3,900 crore. The deal is subject to regulatory approvals.
The PFL board approved the deal on Wednesday.
The value unlocking of the housing finance subsidiary was one of the stated objectives in the company’s Vision 2025 statement. In line with that, PFL started the process by looking at part dilution and price discovery.
The company said it looked at various proposals, including those for a full stake buyout. After an exhaustive review,
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