New owner TPG renames Poonawalla HFC as Grihum

Private equity firm TPG has rechristened Poonawalla Housing Finance as Grihum after acquiring 99% equity. Grihum Housing Finance aims to double its business in three years, focusing on the working class segment. With a Rs 3,900 crore deal, TPG has invested Rs 538 crore in the company, which has a net worth of Rs 1,800 crore. The...