The Jaspal Bindra-led group plans to either exit the housing finance business fully or pare stake to become a minority shareholder. "If we get a good value, we can look at divesting the business or monetise it," Bindra told ET. "It s still at an exploratory stage. We have told EY to look at the various options." Centrum holds about 60% in the mortgage lending arm while Morgan Stanley has 25% interest. The balance is held by employees and other investors.
Jaspal Bindra-led Centrum Capital is weighing possible sale of its stake in its mortgage financing business, a media report said.
The Mumbai-based financial services business, which ..
Mumbai-headquartered Centrum group holds a 74% stake in Centrum Housing Finance. Private equity investor Morgan Stanley PE Asia holds around 25%, having invested ₹190 crore in the business in 2020.
Centrum Capital is reportedly considering selling its stake in Centrum Housing Finance, its mortgage financing business. Centrum holds a 74% stake, while Morgan Stanley PE Asia holds around 25%. The potential sale is driven by RBI directives following Centrum s acquisition of PMC Bank, which require Centrum to divest its majority stake in the housing finance business