Liquidity Events
Areion group wins Rs.936-Cr bid for Aviom India Housing Finance
Areion Group has been selected as the winning bidder for Delhi-based Aviom India Housing Finance , following a unanimous vote by secured lenders for its INR 936 crore resolution plan. This offer was preferred over a higher, but conditional, bid of INR 977.5 crore from Unity Small Finance Bank.The Areion Group plan is anticipated to result in an approximate 65% recovery for Aviom's lenders. Notable lenders with exposure include LIC Housing Finance, with the largest share at 7.2%, and others such as HDFC Bank, Kotak Mahindra Investments, and Tata Capital.Aviom India Housing Finance is a mortgage lender that was admitted to the corporate insolvency resolution process by the Reserve Bank of India in February. This action followed the company's default on loans and discrepancies flagged by auditors in its financial records.
Between Aug 2019 and Jun 2024, Aviom Housing Finance had attracted about USD 73 M from BlueOrchard, TIAA, Sabre Partners, BlackSoil Capital, DFC, Gojo & Company and C4D Partners.For FY24, Aviom Housing Finance had reported about INR 416 Cr in Operating Income and about INR 46 Cr in PAT.
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