Aadhar Housing Finance and DHFL Vysya Housing Finance — both subsidiaries of Dewan Housing Finance — will be merged into one to create a pan-India company to finance affordable housing.
Aadhar Housing chief executive Deo Shankar Tripathi said that boards of both the companies have approved the plan a few days back. International Finance Company (IFC), which holds 20% in Aadhar Finance’s Rs 141 crore capital, has given its consent. Aadhar Housing is present in northern India while DHFL Vysya operates in the southern market. “It’s logical to merge these two as both the companies target the economically weaker segment,” Tripathi said.