For a consideration of Rs 267 cr
Capital India Finance (CIFL) in its board meeting held earlier today, approved the sale of its entire stake in housing finance subsidiary Capital India Home Loans (CIHL) to Weaver Services, which is backed by prominent investors. Valued at Rs 267 crore for 100.00% equity of CIHL, this transaction is part of CIFL's strategic re-alignment to focus on its core businesses and grow them further.
The transaction is subject to regulatory approval.
CIFL is an MSME focused NBFC, spread across 49 cities in India, offering customized financial solutions which include Lending business and Forex services. CIFL has reported a revenue growth rate of 27.70% CAGR over the last 3-years period.
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