Elpro International acquires stake in Can Fin Homes for Rs 10.01 crore

Elpro International Limited has announced the acquisition of 1,44,910 equity shares in Can Fin Homes Limited for a total cash consideration of ₹10.01 crore. This marks a strategic investment in the housing finance sector.

Key Details of the Acquisition:

  • Name of Target Entity: Can Fin Homes Limited, a Canara Bank-sponsored housing finance company.
  • Cost of Acquisition: ₹10.01 crore for 1,44,910 equity shares.
  • Purpose: Investment to strengthen Elpro’s presence in the financial services domain.
  • Consolidated Turnover of Can Fin Homes (FY24): ₹3,524.70 crore, with a revenue growth trajectory over the past three financial years.

Can Fin Homes, established in 1987, is a prominent housing finance player offering a range of financial solutions across India. Its turnover has shown consistent growth, rising from ₹1,988.51 crore in FY22 to ₹3,524.70 crore in FY24.

Elpro International’s acquisition aligns with its strategy to diversify its portfolio while leveraging the growing opportunities in the Indian housing finance sector. The transaction was completed with no related-party involvement, ensuring transparency and adherence to regulatory standards.