Morgan Stanley unit to infuse Rs 190 crore in Centrum Housing Finance

Centrum Housing Finance Ltd has said a fund managed by Morgan Stanley Private Equity Asia has agreed to infuse Rs 190 crore with the aim of acquiring a significant minority stake in the affordable housing finance company.

Sanjay Shukla, Managing Director and Chief Executive of Centrum Housing, said, “The fact that we have been able to attract investment from a fund of the calibre of Morgan Stanley Private Equity Asia at this early growth stage of the company, is a testament to the strength of the company’s business model and a source of great pride for all of us.” The investment is the first such external institutional funding in the Mumbai-based lender.

“This investment will further help us take the company to the next level as we increase penetration across chosen geographies without compromising on credit quality,” he added.