Carlyle enters housing fin with `2,100 cr investment in Nido
For Carlyle, the investment reflects its continued commitment to supporting India’s high- growth housing finance sector
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New Delhi: Edelweiss Financial Services Ltd and Carlyle Group on Tuesday announced that the US-based investment firm will acquire a strategic majority stake in Nido Home Finance, a wholly-owned subsidiary of Edelweiss. As part of the transaction, investment funds affiliated with Carlyle Asia Partners (CAP) will invest Rs 2,100 crore (approximately USD 230 million), which includes acquiring a 45 per cent stake in Nido from Edelweiss through a secondary purchase and a primary equity capital infusion of Rs 1,500 crore (approximately USD 165 million) in the housing finance firm.
Aditya Puri, Senior Advisor to Carlyle in Asia, and former CEO and MD of HDFC Bank, will also participate as an investor, underscoring the strategic importance of the investment, Edelweiss Financial Services Ltd said in a statement. With a robust presence across the country, Nido operates a large network of branches, serving over 800 talukas (sub-districts) in India, and currently manages an AUM of Rs 4,804 crore, it said.
