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The Competition Commission of India (CCI) has approved US-based Blackstone's proposal to acquire up to 80.15% of Aadhar Housing Finance Ltd (AHFL) through its subsidiary, BCP Asia II Holdco VII Pte Ltd. The deal, involving a secondary acquisition and an open offer to public shareholders, will strengthen Blackstone's presence in India's affordable housing finance sector. AHFL offers housing and property loans across the country and also distributes insurance products as a registered corporate agent with IRDAI. With this approval, Blackstone advances its strategy to expand investments in financial services, marking a significant step in India's evolving housing finance landscape.
The Competition Commission of India (CCI) gave its approval earlier this week to the proposal from US-based investment firm Blackstone to acquire a controlling stake in Aadhar Housing Finance Ltd (AHFL). The deal will be executed through Blackstone's subsidiary, BCP Asia II Holdco VII Pte Ltd, which plans to acquire up to 80.15 per cent of AHFL's equity. Advertisement
According to a statement from the regulator, the proposed transaction includes both a secondary acquisition and an open offer extended to the public shareholders of the company. The move aims to strengthen Blackstone's footprint in India's housing finance market, particularly within the affordable housing segment.
Aadhar Housing Finance Ltd provides housing loans and loans against property across India. The company is also registered as a corporate agent (Composite) with the Insurance Regulatory and Development Authority of India (IRDAI), through which it distributes both life and general insurance products.
The CCI confirmed the clearance in an official post on X, stating that the acquisition of up to 80.15 per cent shareholding in Aadhar Housing Finance Ltd by BCP Asia II Holdco VII Pte Ltd had been approved.
With CCI's approval secured, Blackstone is set to significantly increase its presence in India's housing finance sector through Aadhar Housing Finance Ltd. The acquisition aligns with the firm's long-term strategy of expanding its investments in financial services, particularly those linked to affordable housing. The transaction also marks another key development in the ongoing consolidation within India's home finance industry.
Source - PTI
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