Finance

Warburg Pincus to acquire Shriram Housing Finance for Rs 4,630 cr in its biggest India deal

Published

2 years ago

May 13, 2024

Warburg Pincus to acquire Shriram Housing Finance for Rs 4,630 cr in its biggest India deal

Financial services firm Shriram Finance will sell its housing finance arm to private equity major Warburg Pincus for Rs 4,630 crore. This is reportedly Warburg Pincus’ single-biggest deal in India in over two decades.

Warburg will invest another Rs 1,000 crore in the 2011-incorporated Shriram Housing Finance (SHF) after the closure of the deal, which is expected by the end of fiscal in March 2025, Shriram’s executive vice chairman Umesh Revankar said. SHF has grown at a compounded annual rate of over 50 per cent and the Shriram group wishes to focus on its mainstay of small business and vehicle lending rather than pumping capital into the company, Revankar added.

He said Shriram Finance has made an internal rate of return of 22 per cent on the capital deployed in SHF.

Shriram Finance owns 83.8 per cent of SHF while 14.8 per cent is with PE player Valiant, which is also divesting its stake in full, and the remaining 1.4 per cent is with employees. Under the deal, SHF would be acquired by Warburg Pincus through its affiliate Mango Crest Investment Ltd from all the sellers.

“The proposed transaction is valued at Rs 4,630 crore for equity and convertible instruments of SHFL,” Shriram Finance said in a regulatory filing.

The deal needs go-ahead from National Housing Bank, Competition Commission of India and Reserve Bank, he said. Shriram Finance is one of India’s leading NBFCs, serving over 84 lakh customers across India offering commercial vehicle loans, two-wheeler loans, and MSME financing.

SHF has a total employee base of 3,000 people. Following the conclusion of this transaction, it said,SHF will operate as a standalone entity, continuing to enhance value for its stakeholders as it preserves its heritage and mission to provide housing finance solutions to the under-served population of the country.

Shriram Finance MD & CEO Y S Chakravarti said, “We believe that this transaction is in the best interest of SHFL shareholders towards greater value generation and comes at an opportune time for us as well.”.

Shriram Finance Limited will continue to focus on growth led by the short to medium-tenor consumer finance business while Shriram Housing Finance will now chart out its differentiated path, he said. Narendra Ostawal, Head of India Private Equity, Warburg Pincus said, “We remain excited about the affordable housing finance segment in India…their strong team, consistent improvement in financial metrics, geographically diversified presence, customer-first approach, and robust processes are aspects that stand out.” The Shriram Finance scrip closed 1.91 per cent down at Rs 2,300.90 a piece on the BSE as against a 0.15 per cent gain on the benchmark.

Finance

Downtown Cincinnati hotel gets final public approval, but private financing still in flux

Published

5 minutes ago

March 12, 2026

Press Room

Downtown Cincinnati hotel gets final public approval, but private financing still in flux

CINCINNATI (Cincinnati Business Courier) – The plan to build a new $540 million, 700-room Marriott convention center hotel downtown got its final public approval Wednesday, with the Port of Greater Cincinnati Development Authority agreeing to sell $130 million in tax-exempt bonds to finance the project.

The closing on the financing, however, is not expected for another 60 to 90 days. The private financing is still being finalized, although good progress is being made, said Greg Hahn, vice president of public finance for the Port.

“It’s a tough project to finance,” Hahn said, adding that the city, county, state, the Cincinnati Center City Development Corp. and Atlanta-based private developer Portman Holdings have been working “to bring this to life.”

Read the full story from the Cincinnati Business Courier.

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Finance

How to make your offer stand out in a competitive housing market

Published

12 hours ago

March 11, 2026

Press Room

How to make your offer stand out in a competitive housing market

With the weather finally thawed and kids out of school, spring and summer are the busiest seasons for homebuying. This can mean more options to choose from on the market — but it can also mean more competition.

Going through the work of putting together an offer on a house you are excited about, only to get beat out by other buyers, can feel like a major letdown. So, how can you make your home offer stand out if you are wading into a hot housing market? From having your own affairs in order to being flexible and savvy in the offer you craft, here are some tricks you can implement to improve your odds of winning out.

Have everything in order before bidding

If you are trying to buy in a fast-moving, competitive market, it is vital that you have all your ducks in a row before you get to the point of submitting an offer on a home. This means working with an experienced, knowledgeable real estate agent you can trust, and already having mortgage preapproval in hand, so you have a ballpark idea of how much you will actually be able to borrow.

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The former will help you ensure you are putting your best (and most strategic) foot forward when you make an offer, and the latter will provide peace of mind for the seller, given that “in a competitive market, sellers will likely have multiple offers to choose from and will look for a buyer who is able to close on the sale,” said Zillow.

Understand the market, the property and the seller

When it comes to this, the real estate agent you work with can make all the difference. “Their deep market knowledge allows agents to identify accurate comparable listings and help buyers price offers more strategically,” said USA Today. They will also “know how quickly homes are selling in a given area and can communicate quickly and effectively with listing agents.”

An agent can often get insight into what is most important to a particular seller — whether that is a quick closing timeline, the security of a cash offer or an above-listing price — and help ensure your offer checks those boxes.

Consider ways to sweeten your offer

Depending on what feels reasonable and is doable for you, there are a number of steps you can take to make your offer more enticing, including:

Increase your earnest money deposit. This is a deposit made upfront to demonstrate your seriousness about and ability to purchase the home. Typically, it is “around 1% to 3% of the purchase price,” but “in a competitive market, you may choose to increase this to 5% or higher to stand out and prove your commitment,” said Investopedia.

Add in an escalation clause. With an escalation clause, your offer automatically increases, up to a specified maximum, if another buyer in the running outbids you. This can “help you stay in the running if another offer comes in for slightly more than yours,” said Rocket Mortgage, though it is not always necessary or even allowed in certain markets.

Offer concessions. Offering the seller concessions can “make your offer more attractive,” said Rocket Mortgage, though it is also vital here to ensure what you offer is workable for you. Common examples of concessions include offering to pay certain fees, such as the agents’ commission or the seller’s real estate attorney fees, or purchasing the property as-is.

Finance

By the Numbers: Financial report reveals scale of financial costs, growth

Published

1 day ago

March 11, 2026

Press Room

By the Numbers: Financial report reveals scale of financial costs, growth

Following a year marked by financial turbulence, Northwestern’s financial report for fiscal year 2025 revealed the University’s struggles and growth as they navigated a tumultuous landscape in higher education.

The latest report detailed fiscal year 2025, which began Sept. 1, 2024 and ended Aug. 31, 2025. It did not include the University’s stipulated $75 million payment to the federal government, which was part of the agreement struck in November 2025.

According to the University’s 2025 financial report, net assets sit at $16.2 billion, up from 2024’s $15.6 billion. However, the University spent almost $148 million more than it brought in during fiscal year 2025.

In the last five fiscal years, the University has increased steadily in operating costs for assets without donor restrictions.

Year-to-year increases in operating costs hovered around 10% in the past five fiscal years. Simultaneously, revenue growth has decreased year to year, from 12.8% between 2021 to 2022 to only 3.9% between 2024 to 2025.

Amanda Distel, NU’s chief financial officer, identified “rising benefits expenses, litigation, new labor contracts, and rapidly unfolding federal actions” as key challenges in fiscal year 2025 in the report.

Before the deal, NU invested between $30 to $40 million each month to sustain research impacted by the federal freeze, interim President Henry Bienen confirmed in an Oct. 24 interview with The Daily.

In an attempt to reduce costs, the University announced a switch in July to UnitedHealthcare from Blue Cross Blue Shield as the University’s employee health care administrator, effective Jan. 1. However, faculty and staff have reported increased out-of-pocket costs for certain services like mental health care.

Financial aid increased from $618.3 million in fiscal 2024 to $638.3 million in fiscal year 2025. Among undergraduate students in the 2024-25 school year, 15% are first-generation college students and 22% receive federal Pell Grants. According to the report, most families earning less than $70,000 per year attend at no cost, and most families earning less than $150,000 per year attend tuition-free.

Tuition is the second largest source of revenue behind grants and contracts. By the end of the fiscal year, the University held $778 million in outstanding conditional awards, an increase from fiscal 2024’s $713.5 million, according to the report.

Distel wrote that the number of gift commitments above $100,000 reached its highest in University history, calling it a “strong year of philanthropic support.”

Donor funds are categorized by whether or not restrictions were imposed on the time, use or nature of the donation. In fiscal 2025, University net assets without donor restrictions totaled $9.59 billion, or 59.1%, while net assets with donor restrictions totaled $6.65 billion, or 40.9%, of total net assets.

The University’s investment in construction efforts saw an immense uptick from $275.2 million in fiscal 2024 to $750.5 million in fiscal 2025.

This cost is spread across multiple projects, such as Ryan Field, which started construction in 2024 and is slated to open October 2026. The project operates with a $862 million budget, including a $480 million contribution from the Ryan family.

The Ann McIlrath Drake Executive Center, Cohen Lawn and Jacobs Center renovations also continued during the fiscal year.

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