New Delhi, Feb. 3 -- Private equity firm Advent International will invest Rs 2,750 crore (about $305 million) in Aditya Birla Housing Finance Ltd, the mortgage lending arm of Aditya Birla Capital Ltd.
The transaction values Aditya Birla Housing at Rs 19,250 crore ($2.13 billion) on a post-money basis, according to a press release.
Upon completion of the transaction, Aditya Birla Capital will hold about 85.7% and Advent will hold about 14.3% stake in the mortgage lender.
The deal marks Advent's return to the Kumar Mangalam Birla-led Aditya Birla Group. In 2019, the PE firm had invested Rs 1,000 crore in Aditya Birla Capital. It exited the financial services company last year.
Published by HT Digital Content Services with permission from VC Circle.