Blackstone buys 98% Aadhar Housing Finance

New Delhi: Global investment firm Blackstone has bought a majority stake in Aadhar Housing Finance that caters to the housing financing needs of low-income households, a statement said on Tuesday. Blackstone has bought 97.7 per cent stake in Aadhar for about Rs 2,200 crore, sources said.

Blackstone announced that private equity funds managed by Blackstone have acquired a 97.7 per cent stake in Aadhar Housing Finance Ltd, including the entire stake held by existing controlling shareholders, Wadhawan Global Capital Limited (WGC) and Dewan Housing Finance Limited.

As part of the transaction, Blackstone has also infused Rs 800 crore primary equity capital into Aadhar to fund the company for future growth. Aadhar, which has business interests across 20 states and union territories, has asset under management (AUM) of Rs 10,000 crore (USD 1.4 billion), and has average loan ticket size of less than Rs 10 lakh (less than USD 14,000).

Kapil Wadhawan, Chairman of WGC and CMD of DHFL said Aadhar has emerged as one of the largest and most trusted entities in the affordable housing segment and hoped the company will continue to give better services.