Aadhar Housing and DHFL Vysya merger gets NHB nod
DSIJ Intelligence / 07 Jun 2017
National Housing Bank (a wholly owned subsidiary of RBI), has approved the proposal for the merger of Aadhar Housing Finance and DHFL Vysya Housing Finance Ltd. This merger will assist the companies to leverage size and footprint and also help in diminishing its cost of borrowing.
National Housing Bank (a wholly owned subsidiary of RBI), has approved the proposal for the merger of Aadhar Housing Finance and DHFL Vysya Housing Finance Ltd. This merger will assist the companies to leverage size and footprint and also help in diminishing its cost of borrowing.
As per the deal, Aadhar Housing will merge into DHFL Vysya. About 20 per cent in Aadhar Housing is owned by International Finance Corporation(IFC) and DHFL Vysya is fully owned by Wadhanwan family. The merged entity will be named as Aadhar Housing Finance (subject to NCLT's approval).
82 per cent of the merged entity will be owned by the Wadhawani family and the remaining 18 per cent will be with institution including IFC.
Loan portfolio of Aadhar Housing was Rs 3,300 crore while DHFL Vysya was Rs 1,800 crore and combined loan book of both of these entity was Rs 5100 crore as on March 2017.
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