Promoters of debt-ridden mortgage lender DHFL are in talks with private equity (PE) firms and are expecting to garner $1 billion (about Rs 6,900 crore) by selling nearly 50 percent of their holdings. The Wadhawan family, the promoters of the company, currently holds close to 40 percent stake in the company. The sale proceed will enable the company to substantially reduce its debt-to-equity ratio and restart the business to its full potential.
DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.
