MUMBAI: Global private equity firm KKR is in initial discussions with shareholders of Mumbai-based Altico Capital to buy a controlling stake in the real estate-focussed non-banking financial company (NBFC), two people aware of the development said on the condition of anonymity. The PE firm was also in talks to acquire a controlling stake in Aadhar Housing Finance Ltd, a unit of Wadhawan Global Capital (WGC), which also controls Dewan Housing Finance Co. Ltd (DHFL). In FY15, the company was rebranded as Altico Capital India Pvt. In recent months, rating agencies have revised credit ratings of certain debt instruments of Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL), PNB Housing Finance Ltd (PNBHFL) and Dewan Housing Finance Ltd (DHFL). The resulting liquidity crunch and higher cost of capital has prompted many NBFCs and HFC to explore equity sale as well sale of select portfolios on a slump sale basis.

Source: Mint May 05, 2019 17:15 UTC