Page 16 - Banking Finance October 2019

HOUSING

Aptus Value HFC raises Munjal, Premji Invest, Goldman Sachs likely to infuse
Rs 880 in equity capital in PNB Housing Finance
Chennai- based Aptus Value Housing PremjiInvest, Goldman Sachs Group and the family office of Sunil Kant Munjal
F inance are in the advanced discussion in order to
has said it invest in PNB Housing Finance Ltd, said
has raised sources.
Rs 880 PNB Housing is looking to increase as
crore in much as Rs 2,000 crore through the “lim-
equity ited preference" route, under which a
capital in maximum of five investors can partici-
its Series B round led by existing in- pate, the people said on condition of anonymity.
vestor WestBridge and new partici- Two of its existing shareholders, private equity firms General Atlantic and Carlyle,
pants Stead view Capital, Sequoia
will also infuse funds into the mortgage lender, the people said, adding that the
Capital India and Malabar Invest- company will use the funds to bolster its balance sheet and enhance lending to
ments.
homebuyers and property developers.
In the year of 2016, Aptus had raised
“The transaction is expected to be completed by October and there is a possibil-
its Series A round of around Rs 270 ity that its parent, Punjab National Bank, may also participate in the funding round,
crore led by WestBridge. Aptus finds though the potential investment is still under contemplation," said sources.
the market for funding self-employes
persons and individuals in the ticket-
size of Rs 5-25 lakh as an attractive Housing loan subsidy introduced by Assam government
market, and will channel the latest Assam government has recently launched a housing loan subsidy scheme to
round to go deeper in the market. provide financial relief on purchase or construction of the first house for a fam-
ily. Assam Finance minister, Himanta Biswa Sarma launched the scheme titled
The housing finance firm was
founded by financial services veteran "Aponar Apon Ghar"(meaning Your own Home) and said that subsidy up to Rs
2.5 lakh will be provided for loan amounts from Rs 5 lakh to Rs 40 lakh.
M Anandan, who had held various
executive positions with the financial "Up to loan amount from Rs 5 to Rs 10 lakh one lakh interest subsidy will be
services businesses of Chennai-based provided. While between Rs 10 lakh to Rs 20 lakh the subsidy will be Rs 1.50
sugar-tobicycle conglomerate lakh, from Rs 20 lakh to Rs 30 lakh Rs 2 lakh subsidy will be given and from Rs
Murugappa group. 30 to Rs 40 Lakh Rs 2.50 lakh will be provided," Sarma said. "This scheme is
meant for the loan sanctioned in this financial year. This move will provide im-
Anandan said, “With a set of mar-
petus to the economy, it will boost the demand and led to the expansion of real
quee investors, we are well capital-
estate in the state. This move is in line with measures provided by Union Fi-
ised to build on the strong base and
expect to grow our loan book at 60+ nance Minister Nirmala Sitharaman," he said.
% CAGR over 3 years.” Over a de-
cade, Aptus has built a loan book of Lenders to DHFL to execute resolution plan soon
over Rs 2650 crore. Lenders to Dewan Housing Finance Corporation (DHFL) are looking to execute

Aptus Value which provides home the proposed resolution plan, which among other things, calls for Kapil
loans, improvement loans, and busi- Wadhawan to step down as chairman and managing director.
ness loans to the underserved self- The company met with bank lenders recently and is set to meet institutional
employed customers, has disbursed creditors. The meetings come ahead of the company’s 35th annual general
over Rs 3500 crore worth of loans meeting to be held on September 28.
with significant presence in semi ur-
According to senior banker, “Once the enabling resolutions are passed, we ex-
ban, rural areas, according to a re-
pect to see full implementation of the plan, which should happen early next
lease.
week."
16 | 2019 | OCTOBER | BANKING FINANCE