The merger between Aadhar Housing Finance and DHFL Vysya is in the final stage after recent approval from the regulator National Housing Bank (NHB).
The Chief Officer Executive (CEO) of Aadhar Housing Finance Deo Shankar Tripathi confirms the news with an additional information of company’s proposal presented in National Company Law Tribunal (NCLT) for the next stage approval.
Wadhawan Global Capital Pvt Ltd, promoted by Wadhawan family, owns both the companies as in 100 per cent stake of DHFL Vysya Housing Finance and 80 per cent stake of Aadhar Housing Finance. Rest of the shares is owned by Washington-based International Finance Corporation (IFC). Presently, both the companies operate in mutually exclusive locations.
As per the merger agreement, Aadhar Housing will merge into DHFL Vysya with the proposed name Aadhar Housing Finance which will make it a pan-India company. After all the formalities of this merger, Wadhawan family will own 82 per cent in the merged entity and rest 18 per cent will be acquired by finance institutions including IFC.
Post-merger, the company will have a loan portfolio of Rs 5,100 crore combinedly. The merged entity’s first focus will be investing in affordable housing which will boost the government’s Housing for All by 2022 plan.
Source: ET Realty