+
Blackstone has acquired 97.7 per cent stake in Aadhar Housing Finance
Real Estate

Blackstone has acquired 97.7 per cent stake in Aadhar Housing Finance

The private equity funds managed by Blackstone have acquired a 97.7 per cent stake in Aadhar Housing Finance, including the entire stake held by the existing controlling shareholders, Wadhawan Global Capital (WGC) and Dewan Housing Finance. As part of the transaction, Blackstone has also infused Rs 8,000 million primary equity capital into Aadhar to fund the company for future growth.

Aadhar is one of India’s largest independent affordable housing finance companies with a network of 316 branches across 20 states and Union Territories and an AUM of Rs 100 billion (~$ 1.4 billion), which comprises 100 per cent secured lending to retail customers with an average loan ticket size of less than Rs 1 million (~$ 14,000). “Aadhar has the strongest origination capability in the sector with 316 branches,” says Amit Dixit, Head of India Private Equity and Senior Managing Director, Blackstone. “Our primary capital infusion has approximately doubled the company’s net worth and reduced its debt-to-equity ratio by roughly half. We expect the rating agencies and company’s lenders to welcome the ownership transition to a long term, well-capitalised and patient investor in Blackstone. We are proud to support the Government’s ‘Housing for All’ mission and provide capital and much needed confidence to the HFC/NBFC sector.”

And Deo Shankar Tripathi, Managing Director and CEO, Aadhar, adds, “Blackstone’s ownership and upfront capital infusion have been perceived positively by all stakeholders of the company. This investment is testament to the dedication of our outstanding employees who have built this company. Our focus will remain to provide home ownership to every Indian, providing accessible, easy and quick housing finance services.”

The private equity funds managed by Blackstone have acquired a 97.7 per cent stake in Aadhar Housing Finance, including the entire stake held by the existing controlling shareholders, Wadhawan Global Capital (WGC) and Dewan Housing Finance. As part of the transaction, Blackstone has also infused Rs 8,000 million primary equity capital into Aadhar to fund the company for future growth.Aadhar is one of India’s largest independent affordable housing finance companies with a network of 316 branches across 20 states and Union Territories and an AUM of Rs 100 billion (~$ 1.4 billion), which comprises 100 per cent secured lending to retail customers with an average loan ticket size of less than Rs 1 million (~$ 14,000). “Aadhar has the strongest origination capability in the sector with 316 branches,” says Amit Dixit, Head of India Private Equity and Senior Managing Director, Blackstone. “Our primary capital infusion has approximately doubled the company’s net worth and reduced its debt-to-equity ratio by roughly half. We expect the rating agencies and company’s lenders to welcome the ownership transition to a long term, well-capitalised and patient investor in Blackstone. We are proud to support the Government’s ‘Housing for All’ mission and provide capital and much needed confidence to the HFC/NBFC sector.”And Deo Shankar Tripathi, Managing Director and CEO, Aadhar, adds, “Blackstone’s ownership and upfront capital infusion have been perceived positively by all stakeholders of the company. This investment is testament to the dedication of our outstanding employees who have built this company. Our focus will remain to provide home ownership to every Indian, providing accessible, easy and quick housing finance services.”

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code