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Home » Poonawalla to sell Poonawalla Housing Finance
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Poonawalla to sell Poonawalla Housing Finance

News DeskBy News Desk17 December 2022Updated:17 December 2022No Comments1 Min Read
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Poonawalla Fincorp, an NBFC owned by Adar Poonawalla, stated that Poonawalla Housing Finance has been sold to TPG for Rs 3,900 crore. The agreement was reached for around 3.5 times the company’s estimated March 2022 net worth of Rs 1,081.8 crore.

The sale of Poonawalla Housing Finance to Perseus SG Pte, a company connected to TPG Global, LLC, was approved by the board of Poonawalla Fincorp. This occurs at a time when one of the goals in the company’s Vision 2025 declaration listed value unlocking of the housing finance division. Additionally, it is consistent with the business’s emphasis on consumer and MSME finance.

Poonawalla Housing will pursue its own distinctive course as a totally autonomous firm, according to Adar Poonawalla, chairman of Poonawalla Fincorp, which will continue to focus on its development coming from tech-led enterprises and a branch-light strategy.

The purchase of Magma Fincorp by Poonawalla included the housing finance company. The affordable housing finance market was the primary area of focus for the housing subsidiary. The average ticket size at Poonawalla Housing Finance in FY22 was Rs 30 lakh, and the AUM was Rs 5,282 crore.

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