Edelweiss Housing open to 26% stake sale to strategic partner
- Rs 20L seized from Ajit Chandila relative's home, another ex-cricketer held
- Indian American teen Eesha Khare invents wondrous 20-sec charger, Google eyes bid
- India and China ask SRs to work on more border steps
- Can't charge man with rape over consensual sex even if marriage eludes: Supreme Court
- Saudi Arabian authorities refuse to accept new Indian passports
Edelweiss Housing Finance Ltd is considering roping in a strategic partner for divesting 26 per cent stake.
"We like to follow the insurance company model to offer say 26 per cent to a strategic partner. We do not just want to do so for capital, but for expertise in the mortgage business like in mature markets," Edelweiss chairman Rashesh Shah said today.
He clarified that though the housing finance arm of Rs 3,000-crore Edelweiss Group had offers, it might divest after a year when its book grew to Rs 2,000-2,500 crore. Currently, the housing portfolio is around Rs 1,500 crore.
Shah was here to inaugurate the local office of Edelweiss Tokio Life.
Edelweiss last year had roped in Tokio Marine as partner for its life venture.
Shah said the housing business was doing well adding about Rs 100 crore every month.
"The small ticket housing loan is growing very fast. We aim to expand this product to other regions from just two states in south India," he said.
Meanwhile, Shah said he was not averse to foraying into banking but wants regulations in place before taking a final call.
Yesterday, decks had been cleared for entry of corporates into the banking sector with Parliament approving a long-pending Banking Laws Amendment Bill that would give RBI more regulatory powers.
- 'Sophisticated' Indian cyberattacks targeted Pak military sites: Report
- Talkative Li quoted Weber, Hegel, Jobs, said PM is large-hearted
- Bihar food corp ends up with chaff as rice worth Rs 535 cr vanishes from mills
- In 7 lucrative minutes on May 9, Sreesanth bowled six balls, bookie made Rs 2.5 cr
- India and China ask border envoys to work on more steps
- Former Ranji player among 3 more held