Indian affordable housing finance company Aadhar Housing Finance Ltd is nearing to secure 800 crore rupees ($111.6 million) in fresh equity to double its net worth and reduce debt to equity ratio by roughly half.
The investments will come from U.S.-based asset management firm Blackstone, which has committed $9.8 billion of investments in India through private equity and real estate.
Further, Blackstone said that its private equity funds have agreed to buy the entire stake in Aadhar held by the existing controlling shareholders.
Subjected to customary closing conditions, the transaction is expected to close later this year.