housing finance subsidiary of a non-banking financial company has received regulatory approval for its acquisition and change in control by another entity.

The proposed transaction is valued at ?267 crore for the purchase of 100% equity in the housing finance arm. The decision to sell the entire stake was made in October 2024, after which an application was submitted to the regulator for approval of the acquisition and change in management.

According to a statement from the company’s management, the organisation is undergoing strategic restructuring with an emphasis on strengthening its core lending operations. The sale is expected to help redirect resources toward business segments with better growth prospects and long-term value creation.

For the financial year 2024–25, the housing finance subsidiary recorded total income of ?74.55 crore and a profit after tax of ?2.78 crore. Its assets under management stood at ?490.03 crore.

https://www.livehomes.in/news_letter