TPG, a global alternative asset management firm, announced today that it has signed definitive documents with Poonawalla Fincorp Limited to acquire its subsidiary Poonawalla Housing Finance Limited (PHFL) for a pre-money equity valuation of Rs 3,900 crore.
'The value unlocking of the housing finance subsidiary was one of the stated objectives in the company’s Vision 2025 statement,' says Poonawalla Fincorp
Get latest articles and stories on Business at LatestLY. Care Ratings Ltd (Care) has upgraded the long-term rating of Poonawalla Fincorp Limited (PFL) and its subsidiary, Poonawalla Housing Finance Limited (PHFL) to "CARE AAA (Triple A), Stable". This rating is applicable for bank loan facilities, non-convertible debentures, market-linked debentures and subordinated debt. Business News | Poonawalla Fincorp s Rating Upgraded to AAA by Care Ratings.
Pune (Maharashtra) [India], October 1 (ANI/BusinessWire India): Care Ratings Ltd (Care) has upgraded the long-term rating of Poonawalla Fincorp Limited (PFL) and its subsidiary, Poonawalla Housing Finance Limited (PHFL) to "CARE AAA (Triple A), Stable". This rating is applicable for bank loan facilities, non-convertible debentures, market-linked debentures and subordinated debt. Adar Poonawalla, Chairman, PFL stated, "The financial services business has been identified to be of strategic importance for Cyrus Poonawalla Group. The current rating upgrade by CARE to AAA (Triple A) reaffirms the strength of the organization and its leadership along with the financial and operational excellence. This is an important milestone in our journey towards becoming a leader in financial services and is a testimony of our commitment towards building a strong institution." Commenting on the upgrade, Abhay Bhutada, MD, PFL, said, "This upgrade reflects our relentless focus on