REFILE-Advent to buy 14.3% of Indian mortgage lender Aditya Birla Housing Finance for $304 million
Feb 3 (Reuters) - Private equity firm Advent International will buy a 14.3% stake in India's Aditya Birla Housing Finance for 27.5 billion rupees ($304.1 million), the latter's parent said on Tuesday.
The deal values the mortgage lender at 192.50 billion rupees, parent Aditya Birla Capital ADTB.NS said in a press release. On completion of the deal, Aditya Birla Capital would be left with an 85.7% stake in the mortgage lender.
The Advent deal is the latest in a string involving foreign investments in India's financial sector. Japan's MUFG said last year it would buy 20% of non-bank lender Shriram Finance SHMF.NS for $4.4 billion and Emirates NBD Bank struck a $3 billion deal for 60% in private lender RBL Bank RATB.NS.
Aditya Birla Housing Finance had assets under management of 422.04 billion rupees as of December-end.
Advent was an investor in Aditya Birla Capital from 2020 until 2025.
($1 = 90.4420 Indian rupees)
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