Corporate News 11-May-21
Indiabulls Housing Finance to divest its entire stake in MF biz to Groww Group
For consideration of Rs 175 crore
Indiabulls Housing Finance along with its wholly owned subsidiary companies Indiabulls Asset Management Company (IAMCL) and Indiabulls Trustee Company, Trustee of IAMCL, (ITCL) has executed definitive transaction document with Nextbillion Technology, part of Groww Group (hereinafter referred to as “Groww”), to divest its entire stake in mutual fund business, being carried out by IAMCL & ITCL to the Groww at an aggregate purchase consideration of Rs 175 crore (including cash and cash equivalents of Rs 100 crore, as on closing date) (Transaction) subject to necessary approvals, as may be required in this regard.
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