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

03 Nov 2025

Vice-President Backs Global Unity at IN-STEP 2025

Vice-President of India, Shri C. P. Radhakrishnan, addressed delegates at the 3rd edition of the International Strategic Engagement Programme (IN-STEP) held at the Vice-President’s Enclave in New Delhi. IN-STEP serves as a key dialogue platform for senior national security officers from India and friendly foreign nations. The current edition hosts 44 delegates, including 32 international participants representing 24 Global South countries. Commending the joint efforts of the National Defence College, National Security Council Secretariat, Ministry of External Affairs, and Ministry of Defen..

India to Host Global Maritime Events in Visakhapatnam

India will host three major international maritime events in February 2026 at Visakhapatnam — the International Fleet Review (IFR) 2026, Exercise MILAN 2026, and the Indian Ocean Naval Symposium (IONS) Conclave of Chiefs. Scheduled from 15 to 25 February 2026, this marks the first time India will conduct all three significant maritime gatherings simultaneously. The events embody Prime Minister Shri Narendra Modi’s MAHASAGAR vision — Mutual and Holistic Advancement for Security and Growth Across Regions — announced in 2025. The MAHASAGAR framework extends India’s SAGAR (Security and ..

Heavy Industries Ministry Frees 4.4 Million Sq Ft Under SCDPM 5.0

Inspired by the Prime Minister’s vision to institutionalise Swachhata and clear long-pending matters, the Ministry of Heavy Industries (MHI), along with its Central Public Sector Enterprises (CPSEs) and Autonomous Bodies (ABs), actively participated in the fifth consecutive year of the Special Campaign for Disposal of Pending Matters (SCDPM) 5.0, held from 2 to 31 October 2025. Throughout the campaign, MHI worked closely with the Department of Administrative Reforms and Public Grievances, reporting daily progress on a dedicated monitoring portal. Shri Bhupathi Raju Srinivasa Varma, Minister..