Shriram Finance is seeking to promote a 15% stake in its housing finance subsidiary Shriram Housing Finance for a valuation of `1,000 crore, information company Reuters reported on Wednesday, quoting sources.
Shriram Housing Finance, which gives residence loans largely within the reasonably priced housing phase, has acquired curiosity from a number of non-public fairness gamers, together with BPEA EQT, the report mentioned.
Shriram Finance declined to touch upon the information.
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“We aren’t commenting on market hypothesis. As a standard observe, there’s at all times some dialogue on for fairness or debt. Nothing out of the abnormal in our opinion,” a spokesperson from Shriram Finance mentioned.
As of December 31, Shriram Finance held an 85% stake in Shriram Housing Finance, and San Francisco-headquartered Valiant Capital Administration held had the remaining.
After the fairness infusion, Shriram Finance’s shareholding within the housing financier will fall to 70% from 85%, the report mentioned.
