Poonawalla Fincorp Limited (PFL), a non-deposit-taking systemically important NBFC, on Wednesday announced consummated its controlling stake in Poonawalla Housing Finance Ltd (PHFL) to TPG Global’s affiliate Perseus SG Pte Ltd. With this, PHFL has ceased to be a subsidiary of PFL, and Perseus SG now holds a controlling equity stake in PHFL.
“PFL received a post-tax consideration of Rs 3,004 crore for its stake sale,” Poonawalla Fincorp Ltd said in a statement.
Abhay Bhutada, managing director of PFL, said, “With the consummation of the housing finance subsidiary transaction, we get ample growth capital, which will continue to keep us focused on achieving our stated Vision 2025. We will continue the focus on our chosen segments of consumer and MSME, and build a tech-led, digital-first retail lending franchise.”
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