The World Bank’s private sector funding arm International Finance Corporation (IFC) and Wadhawan Global Capital Pvt Ltd are going to raise their investments in Aadhar Housing Finance by putting in Rs 60 crore between them to help the housing loan provider to lower income families double its business.
Aadhar Housing Finance chief executive Deo Shankar Tripathi told ET that the exercise would be completed in a month or two and would prelude its proposed merger with DHFL Vysya Housing Finance, another entity owned by the Wadhawan family. IFC holds 20 per cent in the company set up in 2011 with Wadhawan Global Capital (WGC) having around 62 per cent interest. Dewan Housing Finance Corporation, which is 33 per cent owned by WGC, holds 14.5 per cent in Aadhar while the balance remains with Wadhawan family members. Housing finance companies are barred from owning more than 15 per cent in each other.