Dewan Housing Finance Corporation (DHFL), which has inked agreement to buy 74% stake in DLF’s life insurance joint venture with US-based Prudential International Insurance Holdings, reportedly has no plans to raise funds from the market anytime soon. The company presently plans to continue to focus on its core business of home loan and housing finance.
Dewan Housing Finance Corporation (DHFL) and Prudential Financial, Inc. (PFI) recently only have entered into a joint venture (JV) partnership to provide life insurance products to customers in India.
Under the terms of the agreement, which is subject to regulatory approvals, DHFL and its promoters’ entities will acquire DLF’s 74% interest in DLF Pramerica Life Insurance Company (DPLI) and the company, upon closing is proposed to be renamed DHFL Pramerica Life Insurance Company (DHFL Pramerica). The business of the current entity will continue without interruption and the current management will continue to run the joint venture, under the stewardship of the shareholders.
