INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of DHFL jumped over 4 per cent on Monday morning after the company in a BSE filing said it would be selling its entire
30.63 per cent stake in Avanse Financial Services.
The scrip hovered at Rs 135.20, up 2.42 per cent at around 09:35 am while the benchmark
BSE Sensex was up 0.86 per cent at 38,352.79
ET first reported on February 26 that PE firms including Warburg Pincus, Kedaara Partners, CX Partners and Centrum Capital are in talks to
acquire 80 per cent stake in Avanse held by parent WGC Group and associate company Dewan Housing Finance Corporation Ltd (DHFL)
"The rest 20 per cent stake is held by International Finance Corporation
The deal will value the company at Rs 1,100 crore
Ernst Young LLP (EY) was the exclusive financial advisor to the company and the sellers on this transaction," a report said
Meanwhile, the shares of DHFL opened at Rs 137.80 on BSE against its previous closing of Rs 132.
