The strategy is to be asset-light: Indiabulls HF's V-C & MD Gagan Banga

It is not to grow the balance sheet but to grow AUM, says Gagan Banga

Sameer Gehlaut (promoter), who held nearly 22 per cent in Indiabulls Housing Finance, sold 11.9 per cent in multiple block deals last week to over 10 entities. He will also step down from the board by the end of FY22 and complete the firm’s de-promoterisation. In an interview with Subrata Panda, vice-chairman & managing director Gagan Banga explained the rationale behind Gehlaut offloading his stake, and what the firm’s plans are. Edited excerpts:

What is the rationale behind Gehlaut selling such a large stake in the firm?

About two years ago, we started the process of institutionalisation of the company. It began