Thrifts and Mortgage Finance
Company Overview of ICICI Home Finance Company Limited
ICICI Home Finance Company Limited provides financial assistance to individuals, corporate bodies, builders, and co-operative housing societies in India. It offers loans for specified interest and maturity to acquire, construct, erect, improve, extend, alter, repair, renovate, and develop houses, flats, buildings, or other real estate properties. The company’s home loan products include home improvement loans, land loans, office premises loans, loans for under construction projects, balance transfer facilities, and top-up loans. It also provides loans against properties and lease rental discounting services; fixed deposit products; and insurance products. In addition, the company is involved...
ICICI Bank Towers
Founded in 1999
Key Executives for ICICI Home Finance Company Limited
Chief Executive Officer, Managing Director, Director and Member of Stakeholders Relationship Committee
Compensation as of Fiscal Year 2015.
ICICI Home Finance Company Limited Key Developments
Piramal, TPG, Baring Reportedly In Race To Acquire ICICI Home Finance
Nov 2 15
Piramal Enterprises Limited (BSE:500302), TPG Capital, L.P. and Baring Private Equity Asia are reportedly in the race to acquire ICICI Home Finance Company Limited from ICICI Bank Ltd. (NSEI:ICICIBANK), two people familiar with the development said. The potential buyers submitted nonbinding bids in the first round on October 30, 2015. The bidding war and negotiations with ICICI Bank are set to begin in the second or third week of November, a person directly involved in the deal said. ICICI Bank will also set the base price for the binding bids. Standard Chartered PLC (LSE:STAN) and ICICI Bank Ltd. (NSEI:ICICIBANK) are advising the bank. The Piramal Group submitted the most aggressive bid in the first round, people close to the development said. Some potential buyers have recruited professionals to run the business should they outbid their rivals for ICICI Home Finance. Private equity firm TPG has hired R Sridhar to outbid rivals for ICICI Home Finance. Profit after tax of ICICI Home Finance decreased to INR 1.98 billion in 2014-15 from INR 2.23 billion. A TPG official declined to comment. A Piramal spokeswoman did not respond to a questionnaire from ET. Baring Asia officials were not reachable for comment on November 1, 2015.
ICICI Home Finance Company Limited Announces Earnings for the Second Quarter of 2016
Oct 30 15
ICICI Home Finance Company Limited announced earnings for the second quarter of 2016. For the quarter, the company reported profit after tax of INR 488.7 million in compared to INR 481.1 million in second quarter 2015. Net NPA ratio is 0.7%.
ICICI Bank To Reportedly Sell ICICI Home Finance
Jul 10 15
ICICI Bank Ltd. (NSEI:ICICIBANK) is likely to divest ICICI Home Finance Company Limited, to investors such as private equity funds, according to people close to the development. ICICI Bank may expect a valuation of around $700 million, said two potential investors who have been approached. Citibank has the mandate for the transaction, said the people cited. ICICI Bank had invited the investment bank to pitch for the mandate three months ago and the decision to appoint Citibank was taken about a fortnight back. "The mandate was given recently and some private equity players and a couple of other investors have been approached by the investment bank. Although it's too early to say but some PE players may consider entering the housing finance sector," a person close to the matter said.
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