Dewan Housing Finance Corporation gets RBI approval for disinvestment of its stake in Avanse

Dewan Housing Finance Corporation announced that the Reserve Bank of India vide its letters received by Avanse on 4th June, 2019 has granted its prior approval for change in control / ownership and management of Avanse, subject to conditions. Accordingly, the divestment of the Company's stake in Avanse is expected to be completed shortly.

On 16 March 2019, the Board of the company accorded approval to disinvest to Olive Vine Investment an affiliate of the Warburg Pincus Group ("Acquirer"), 1,92,50,719 (30.63%) equity shares i.e. the Company's entire shareholding held in Avanse Financial Services ("Avanse").

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