M&A

M&A

Shivalik SFB set to acquire affordable home loans player ManiBhavnam for Rs.109-Cr

Economic Times  

Kolkata-based Shivalik Small Finance Bank is in the final stages of acquiring Delhi-based ManiBhavnam Home Finance in a transaction valued at Rs.109-Cr. The acquisition will be financed through a combination of share swaps and a cash payment.ManiBhavnam Home Finance operates in the affordable housing segment with a loan book of approximately Rs.300-Cr. Shivalik Small Finance Bank, which transitioned from an urban cooperative bank, plans to use the acquisition to strengthen its presence in the affordable housing market, expand its secured lending portfolio, and increase its geographic reach across North India.

In Dec 2021, ManiBhavnam Home Finance had attracted about $ 1 M from Anicut Capital and others.For FY25, ManiBhavnam Home Finance had reported about INR 45 Cr in Operating Income and about INR 6 Cr in PAT.