homebusiness Newscompanies News'Cholamandalam mulling Aptus Value Housing takeover', say sources; Aptus denies
'Cholamandalam mulling Aptus Value Housing takeover', say sources; Aptus denies
Aptus Value Housing has also not responded to CNBC-TV18's query regarding the potential arrangement with Chola.
Cholamandalam (Chola) is considering an arrangement with Aptus Value Housing, which would give it management control of Aptus, sources with knowledge of the matter told CNBC-TV18.
However, Aptus Value Housing in a statement later said news of such a deal was "factually incorrect" and they were "not part of any such negotiations".
A deal may be facilitated by the fact that Anandan, the promoter and Managing Director of Aptus, has no identified successor in his family and is also a former employee of Chola.
Additionally, it is also possible that the Private Equity (PE) and promoters, who own nearly 37 percent stake in Aptus, may be aiming for an exit at some point, making a deal with Chola more likely.
Sources said that Chola is interested in entering the housing segment and sees Aptus as a potential fit. Similar operations, better Net Interest Margin (NIMs) and return ratios are also on offer from Aptus.
However, Chola has declined to comment on this, saying as a policy, they do not comment on speculations.
"We would also like to inform you that there is no information/announcement which may have a bearing on the price/volume behaviour in the securities of the company," Aptus Value Housing in a statement, adding that whenever there is any development regarding the affairs of the company, the stock exchanges will be duly informed.
First Published: Mar 8, 2023 12:40 PM IST
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