Poonawalla Fincorp Ltd, on Wednesday, notified that it is going to sell its housing subsidiary Poonawalla Housing Finance Ltd to Perseus SG Pte Ltd for Rs 3,900 crore. The Non-Banking Finance Company (NBFC) stated in a regulatory filing that the transaction is going to maximise the value of shareholders in the long run. Poonawalla Fincorp added that it is because it aims to build a tech-led and digital-first financial services firm, which has led in consumer and Micro, Small, and Medium Enterprises (MSME). According to Poonawalla Fincorp, it is going to continue to work towards achieving its “Vision 2025” at a standalone level with a focus on asset quality, growth, and profitability. As per the company, one of the stated objectives in its Vision 2025 statement includes the value unlocking of its housing finance subsidiary. The firm added that in accordance with that, it is looking at part dilution and price discovery. According to Poonawalla Fincorp, it has received a huge response to the news, including proposals for an entire stake buyout. It further stated that after an exhaustive strategic review of the proposals the board had decided that a complete stake sale is going to be in the best interest of both entities. Poonawalla Fincorp added that a complete stake sale is also going to be in the best interest of all the stakeholders who are considering different customer segments, distribution models, and geographies. Adar Poonawalla, Chairman of Poonawalla Fincorp, said, “Financial services business is of strategic importance to us.” He further added that the company remains fully committed to creating value for all of its stakeholders. As per the corporation, this transaction will help in focusing on maximizing value creation by optimising resource allocation and increasing the focus of management on their respective business requirements. The company stated that it sees tremendous growth opportunities in its present and proposed line of businesses with the rapid growth in the digital ecosystem. Poonawalla Housing Finance operates in the affordable housing market. Its business had over 46,000 customers and the average ticket size was Rs 11 lakh as of 31 March. Poonawalla Fincorp, along with its subsidiary, has Assets Under Management (AUM) of Rs 18,560 crore and employs over 4,000 people. The firm’s financial services offerings include personal loans, business loans, pre-owned car finance, supply chain finance, medical equipment, affordable home loans, etc. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .