Leading housing finance company, Indiabulls Housing Finance has has purchased the entire 42.5 per cent holding of Amaprop in its subsidiary, Indiabulls Finance Company Pvt. Ltd for a total sale consideration of Rs. 260 crore.
Amaprop Limited, a US private equity firm had invested in the equity capital of the Indiabulls' subsidiary under a share purchase agreement. Indiabulls Finance Company Pvt. Ltd is a Non-Deposit taking NBFC, registered with and regulated by RBI. With the purchase of Amaprop's equity stake, Indiabulls Finance Co. Private Ltd is now 100 per cent owned by Indiabulls Housing Finance Ltd.
Shares of IndiaBulls Housing Finance Company were last trading at Rs 195.40, down 0.48% over Wednesday's close.