Poonawalla Fincorp to sell TPG a housing financing unit for Rs 39 bn
Real Estate

Poonawalla Fincorp to sell TPG a housing financing unit for Rs 39 bn

At a valuation of Rs 39 billion, Poonawalla Fincorp (PFL) would sell its housing business Poonawalla Housing Finance (PHFL) to Perseus SG, a subsidiary of private equity firm TPG Global. The transaction is pending regulatory approval.

The PFL board accepted the agreement this week.

One of the goals in the company's vision 2025 declaration was the value unlocking of the housing financing business. In keeping with that, PFL looked at part dilution and price discovery as the process's initial steps.

The business claimed to have considered a number of bids, including those for a complete stake purchase. The board determined that a total stake sale would be in the best interests of all stakeholders after conducting a thorough investigation.

PFL informs, this implies a total equity worth of Rs 39 billion.

By the end of September 2022, PHFL's assets under management had increased 31 per cent year over year (YoY) to Rs 56.12 billion.

PFL elaborated on the future, stating that the company aimed to grow its assets under management by 35 to 40 per cent annually over the following three years. The NBFC with its headquarters in Pune aims to consistently generate a return on asset in the range of 4 per cent to 4.5 per cent.

The housing financing unit will soon receive additional equity funding up to Rs 10 billion from global alternative asset management company TPG to boost growth.

Also read:
Global bidders vie for Waverock complex in Hyderabad
Trump-Tribeca partnership plans 3-5 Indian projects next year


At a valuation of Rs 39 billion, Poonawalla Fincorp (PFL) would sell its housing business Poonawalla Housing Finance (PHFL) to Perseus SG, a subsidiary of private equity firm TPG Global. The transaction is pending regulatory approval. The PFL board accepted the agreement this week. One of the goals in the company's vision 2025 declaration was the value unlocking of the housing financing business. In keeping with that, PFL looked at part dilution and price discovery as the process's initial steps. The business claimed to have considered a number of bids, including those for a complete stake purchase. The board determined that a total stake sale would be in the best interests of all stakeholders after conducting a thorough investigation. PFL informs, this implies a total equity worth of Rs 39 billion. By the end of September 2022, PHFL's assets under management had increased 31 per cent year over year (YoY) to Rs 56.12 billion. PFL elaborated on the future, stating that the company aimed to grow its assets under management by 35 to 40 per cent annually over the following three years. The NBFC with its headquarters in Pune aims to consistently generate a return on asset in the range of 4 per cent to 4.5 per cent. The housing financing unit will soon receive additional equity funding up to Rs 10 billion from global alternative asset management company TPG to boost growth. Also read: Global bidders vie for Waverock complex in Hyderabad Trump-Tribeca partnership plans 3-5 Indian projects next year

Next Story
Infrastructure Energy

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Next Story
Infrastructure Energy

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Next Story
Infrastructure Energy

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?