PE firm Apollo seeks BOARD seats in Indiabulls Housing Finance
30Major US PE firm is looking to secure board seat for itself in Indiabulls Housing Finance as a precondition to making an investment in the NBFC. ET Now's Ajaya Sharma reports, Apollo is keen to invest and even promised in their discussion to bring along further private equity companies like in a consortium firm where the big investment will be flowing in but one of the preconditions which have been brought forward which is kind of agreed-upon moving forward is board seats so two seats will be secured by equity consortium led by Apollo. The first stanch of investment will come in closer to 300 million dollars and the subsequent stanch will be another 500 Million dollars but the initial stanch will come when the ore condition will be decided. Watch!
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