Dewan Housing Finance Corporation (DHFL) has received approval to disinvest to Olive Vine Investment an affiliate of the Warburg Pincus Group, 1,92,50,719 equity shares constituting 30.63% of the paid up capital of Avanse Financial Services (Avanse) i.e. its entire shareholding held in Avanse. The Board of Directors of the Company at its meeting held on March 16, 2019 has approved the same.
Pursuant to the above, the company has entered into a Share Purchase Agreement on March 16, 2019 with the Warburg Pincus Group, Avanse and the other sellers including Wadhawan Global Capital (WGC) promoter entity of the Company.
DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.