InvestorQ : Is it true that Morgan Stanley is buying a stake in Centrum Group of Mumbai?
Anu Biswas made post

Is it true that Morgan Stanley is buying a stake in Centrum Group of Mumbai?

Answer
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Neelam Naik answered.
8 months ago


Morgan Stanley private equity has not yet taken any stake but is reported to be in advanced talks with the Centrum Group to pick up a 20% stake in its housing finance subsidiary, Centrum Housing Finance. This is just a part of the Centrum group and the housing finance subsidiary is apparently being valued at around Rs.6,000 crore as Morgan at a valuation of up to Rs 1,200 crore. In fact, Morgan Stanley Private Equity has emerged as frontrunner among PE funds for the stake. Others in the fray include New York Life-backed Jacob Ballas.

A binding agreement is expected to be signed within this month of January 2020 before a formal announcement is made.