Blackstone and ADIA Lead Charge on Indiabulls Housing Finance Tranche Sale
Posted on 12/16/2021
Sameer Gehlaut is the founder of Indiabulls Housing Finance Limited, an Indian mortgage lender who has faced investor scrutiny since the collapse of IL&FS Group in 2018. Sameer Gehlaut is selling about half his stake in Indiabulls Housing Finance to investors led by Blackstone Group Inc. and Abu Dhabi Investment Authority (ADIA). Sameer Gehlaut will sell roughly 11.9% to the firms in an initial tranche. This brings Sameer Gehlaut’s ownership (held by his promoter companies) in Indiabulls Housing Finance down to 9.8%.
Blackstone Group acquired a 2.27% stake, while ADIA got 1.25%. Other investors in the deal include Invesco Mutual Fund and Morgan Stanley.
The deal is valued at 14 billion rupees or US$ 185 million.
Keywords: Blackstone Group LP.