COUNTRY'S largest auto-focused non-bank lender Shriram Finance has decided to exit the housing finance vertical and has agreed to sell its entire 85% stake to US private equity major Warburg Pincus for a consideration of 4,630 crore after 13 years of operations.
The Chennai-based group, began way back in 1974, had been in discussions with many prospective bidders for the sale of Shriram Housing Finance for a few months now and was also in dialogue with the UAE sovereign wealth fund Mubadala and another private equity majors Bain Capital and BPEA EQT, but the talks did not proceed.
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