Centrum Capital explores sale of its stake in housing

10 Oct 2023 CW Team

Centrum Capital, the financial services conglomerate under the leadership of Jaspal Bindra, is reportedly considering the possibility of divesting its stake in its mortgage financing subsidiary, Centrum Housing Finance. According to sources familiar with the matter, Centrum Group, headquartered in Mumbai, currently holds a 74% stake in Centrum Housing Finance, while private equity investor Morgan Stanley PE Asia owns approximately 25%, having invested $190 crore in the company in 2020.

"One of the sources revealed that Centrum is formulating a plan to explore the sale of its stake in its housing finance business and that a formal process is expected to be initiated shortly," the report stated. The housing finance business is estimated to command a valuation of approximately $1,500 crore, as per the source.

The decision to pursue a stake sale in the housing finance business is believed to be prompted by directives from the Reserve Bank of India (RBI). These directives arose in the wake of the acquisition of PMC Bank (now renamed Unity Small Finance Bank) by the Centrum Group and BharatPe consortium in 2021. RBI regulations stipulate that if Centrum continues to maintain a majority stake in the housing finance subsidiary, it cannot engage in the business of mortgage financing.

Centrum's exploration of a stake sale reflects the evolving dynamics within the financial services sector and its commitment to aligning its business operations with regulatory guidelines.

Infrastructure Urban

09 Jan 2026

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..

Sources Unlimited Introduces Vitamine Pendant Lamp by Melogranoblu

Sources Unlimited has launched the Vitamine Pendant Lamp by Melogranoblu in India, expanding its portfolio of curated international luxury lighting solutions. Designed and crafted in Italy, the Vitamine pendant reflects contemporary glass artistry, combining hand-blown craftsmanship with refined aesthetics and atmospheric illumination.The Vitamine Pendant Lamp is sculpted in hand-blown glass and is available in frosted, silver and black metallised finishes. Each finish offers a distinct visual identity while maintaining a cohesive and sophisticated design language. The lamp’s softly contoure..