L&T Finance Holdings Limited (LTFH) has announced its entry into the housing finance business, with the signing of definitive agreements for the acquisition of Indo Pacific Housing Finance Ltd (IPHF), a small sized housing finance company. “Consummation of this acquisition is subject to receipt of appropriate regulatory approvals,” LTFH has stated in a release.
As of its last audited results, IPHF had loan book size of Rs 193.5 crores. It has 34 branches, primarily in the southern and western regions. It also has a fully staffed professional team with hands-on experience in housing finance.
This acquisition will synergize with LTFH’s existing Financial Services Businesses by deepening and widening its services.