Feb 10 (Reuters) – U.S. private equity firm Carlyle will invest 21 billion rupees ($232 million) in the housing finance unit of India’s Edelweiss Financial, the Indian firm said on Tuesday.
The investment includes acquisition of a 45% stake and a primary equity capital infusion of 15 billion rupees in the Edelweiss unit, Nido Home Finance.
With this deal, Carlyle joins the likes of Blackstone and Sumitomo Mitsui Financial Group in betting on India’s booming housing finance sector.
At the end of the deal, investment funds affiliated with Carlyle Asia Partners will hold about 73% of Nido, Edelweiss said.
Nido manages assets worth 48.04 billion rupees.
Last year, Carlyle sold its decade-old investments in PNB Housing Finance and Yes Bank.
Shares of Edelweiss were up around 8% at 2:20 p.m. IST in Mumbai.
($1 = 90.5130 Indian rupees)
(Reporting by Urvi Dugar in Bengaluru; Editing by Mrigank Dhaniwala)
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