Warburg Pincus to Acquire Shriram Housing Finance in Rs 4,630-Crore Deal

The Competition Commission of India has approved a Rs 4,630-crore deal where private equity firm Warburg Pincus will acquire Shriram Housing Finance through Mango Crest Investment Ltd. This transaction aims to boost Shriram Finance's focus on vehicle and small business lending.

The Competition Commission of India (CCI) on Tuesday approved the proposed Rs 4,630-crore deal, wherein private equity major Warburg Pincus will acquire Shriram Finance's arm Shriram Housing Finance.

The proposed combination involves the acquisition of shareholding in Shriram Housing Finance Ltd by Mango Crest Investment Ltd, an affiliate of US-based Warburg Pincus, the CCI said in a release.

This deal will enable Shriram Finance to concentrate on its vehicle finance and small business lending divisions.

(With inputs from agencies.)