Centrum Capital rises as its subsidiary to acquire the housing finance business of National Trust Housing Finance

Centrum Capital rises as its subsidiary to acquire the housing finance business of National Trust Housing Finance

Indian Market
by 5paisa Research Team Last Updated: 2022-12-09T11:48:42+05:30

Shares of Centrum Capital rallied after its subsidiary acquired NATRUST for Rs 112 crore.

On Tuesday, shares of Centrum Capital closed at Rs 27.05, up by 0.65 points or 2.46% from its previous closing of Rs 26.40 on the BSE.

The scrip opened at Rs 26.80 and touched a high and low of Rs 27.50 and Rs 26.55, respectively. So far 17807 shares were traded on the counter.

Centrum Capital's subsidiary, Centrum Housing Finance (CHFL), has entered into a Business Transfer agreement for the acquisition of National Trust Housing Finance's (NATRUST) housing finance business for Rs 112 crore on December 3, 2022. The transaction is subject to customary pre-closing conditions and actions.

NATRUST is a Chennai-based Affordable Housing Finance Company with a presence in 17 locations across four South Indian states. It has a loan book of more than Rs 300 crore and a team of 149 people. According to the terms of the agreement, CHFL will acquire the housing finance business, including the loan portfolio, branches, and employees. The acquisition will increase CHFL's AUM to over Rs 1,000 crore. The acquisition will assist CHFL in expanding geographical coverage and adding origination capacities to supplement organic growth.

Centrum Capital Limited is a SEBI-registered Category-I Merchant Banker and Financial Services provider. The company is involved in investment banking, lending, wealth management services, bond trading, and insurance. It is present in 142 cities across India and has an international presence in Singapore. The promoters holding in the company stood at 38.23%, while Institutions and Non-Institutions held 0.44% and 61.34%, respectively.

The BSE group 'B' stock of face value Rs 1 has a 52-week high and low of 36.60 and 18.20, respectively.

In the last one week, the high and low of the scrip stood at Rs 27.95 and Rs 24.65, respectively. The current market cap of the company is Rs 1125.37 crore.

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