Poonawalla Fincorp Ltd. (PFL), a non-deposit taking NBFC, mentioned it had transferred controlling stake in its housing finance subsidiary Poonawalla Housing Finance Ltd. (PHFL) to Perseus SG Pte. Ltd., an entity affiliated to TPG Global LLC.
“With this stake sale, PHFL has ceased to be a subsidiary of PFL and Perseus SG Pte. Ltd. now holds a controlling equity stake in PHFL. PFL received a post-tax consideration of ₹3,004 crore for its stake sale,” the corporate mentioned in an announcement.
Abhay Bhutada, Managing Director, PFL, mentioned “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,” he added.
