Housing Finance Companies

Global private equity giants EQT, CVC Capital, and Bain Capital have shown keen interest in the ongoing major stake sale process at Aavas Financiers Ltd (formerly AU Housing Finance Ltd). As per initial report, the deliberation of complete exit by NBFC's twin promoters, Kedaara Capital and Partners Group, after jointly acquiring the firm over eight years ago. The due diligence for the proposed deal is underway with Jefferies acting as the appointed sell-side advisor. While a strategic suitor exploring expansion in the financial services sector may have evaluated the opportunity, confirmation on their continued participation remains undisclosed. Queries directed via email to Kedaara Capital, Aavas Financiers, and CVC Capital remained unanswered at the time of this publication, with...

In an attempt to facilitate access of overseas fund without any hassel, Reserve Bank of India (RBI) liberalized External Commercial Borrowings Policy by adding more sectors in the window. In a late night notification that released yesterday. It has been decided to increase the ECB Liability to Equity Ratio for ECB raised from direct foreign equity holder under the automatic route to 7:1. This ratio will not be applicable if a total of all ECBs raised by an entity is up to USD 5 million or equivalent. A uniform all-in-cost ceiling of 450 basis points over the benchmark rate will be stipulated to harmonize the provisions of Foreign Currency and Rupee ECBs and Rupee Denominated Bonds. Moreover, Housing Finance Companies and port trust are eligible to avail ECB's under all tracks, provide...

Tag: Housing Finance Companies

Global Private Equity Firms Eye Stake Sale at Aavas Financiers

Reserve Bank of India Ease Rules For Overseas Funding