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Central Bank of India to exit housing finance business; to sell JV stake for Rs 160 crore
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Central Bank of India to exit housing finance business; to sell JV stake for Rs 160 crorePTI
Last Updated: Dec 24, 2020, 08:06 PM IST
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Synopsis
CBHFL is a financing and mortgage company jointly promoted by four public sector institutions Central Bank of India, National Housing Bank, Specified Undertaking of Unit Trust of India (SUTTI) and Housing and Urban Development Corporation (HUDCO).
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NEW DELHI: State-owned
Central Bank of India will exit housing finance joint venture by selling its entire stake of over 64 per cent to Centrum Housing Finance for Rs 160 crore.
Central Bank of India to exit housing finance
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PSB to sell stake in JV for ₹160 crore.
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PSB to sell stake in JV for ₹160 crore. State-owned Central Bank of India will exit its housing finance joint venture by selling its entire stake of more than 64% to Centrum Housing Finance for ₹160 crore. “This is to inform that the bank has entered into a binding agreement to divest its entire equity stake of 64.4% i.e. 1,61,00,000 shares of face value of ₹10 each in Cent Bank Home Finance Ltd (CBHFL), to Centrum Housing Finance, subject to approvals from regulatory authorities,” Central Bank of India said.