Private Equity

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Unity Small Finance Bank wins auction for bankrupt Aviom Housing Finance for Rs.977.5 Cr

Economic Times  

Mumbai-headquartered Unity Small Finance Bank has emerged as the winning bidder for Delhi-based Aviom India Housing Finance, offering an upfront payment of INR 977.5 crore. The acquisition process was conducted under the supervision of the National Company Law Tribunal (NCLT).Other participants in the challenge auction included Areion, a fund promoted by Omkara Asset Reconstruction Company, and Authum Investment and Infrastructure, whose final offers were INR 936 crore and INR 850 crore, respectively. Northern Arc, DMI Housing, and Kifs Housing Finance had also submitted resolution plans but did not participate in the final auction.Aviom India Housing Finance, an affordable housing finance company, was admitted to corporate resolution under the Insolvency and Bankruptcy Code in February, subsequent to its default on loans. The auction involved 13 rounds of bidding, with a floor price set at INR 800 crore.

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.