Dhampur Sugar Mills Limited has announced a major diversification move with the decision to acquire a controlling 51 percent stake in Venus India Asset-Finance Private Limited for around ₹50 crore. The company’s board approved the proposal during its meeting held on October 28, 2025, marking Dhampur’s entry into the financial services space.
According to the share purchase agreement signed between Dhampur Sugar Mills, Goel Investments Limited, Venus India Structured Finance Master Limited, and Mr. Bhavesh Huns Biltoo of KPMG (acting as the seller’s liquidator), Dhampur will acquire 4.72 crore equity shares of Venus India Asset-Finance, representing 51 percent of its total paid-up capital. The acquisition will be carried out for a cash consideration of USD 5.5 million, equivalent to approximately ₹50 crore at prevailing exchange rates.
This transaction is subject to various regulatory conditions, including approval from the Reserve Bank of India under the Master Direction for Non-Banking Financial Company – Scale Based Regulation, 2023. The approval is required as the acquisition involves a change in control and exceeds the 26 percent threshold of shareholding in the target entity.
Venus India Asset-Finance Private Limited, incorporated in 1996, is a non-deposit taking NBFC registered with the Reserve Bank of India and classified as a Base Layer NBFC. The company operates out of Okhla Industrial Estate in New Delhi and is primarily engaged in providing short- and medium-term general-purpose loans to borrowers.
For the financial year 2024–25, Venus India Asset-Finance reported a net worth of ₹228.17 crore, a turnover of ₹42.19 crore, and a profit after tax of ₹14.94 crore. Over the past three years, the company’s turnover has shown a steady performance, standing at ₹65.94 crore in FY23, ₹34.85 crore in FY24, and ₹42.19 crore in FY25.
