Investment8 May 2026, 11:05 am
Star Housing Finance: Bassinvictus to Infuse ₹200 Cr
AI Summary
Star Housing Finance Ltd has received a Letter of Intent from Bassinvictus Private Limited, expressing intent to infuse ₹200 cr in equity, subject to approvals. Bassinvictus aims to acquire a majority stake, buy out promoters' and ARKFIN's stake via secondary purchase, and bring in a new leadership team. An immediate infusion of ₹25 cr as ICD is planned to clear pending dues and statutory payments. Lenders' agreement is required to convert the letter into a firm commitment.
Key Highlights
- Bassinvictus intends to infuse ₹200 cr equity into Star HFL.
- Acquisition of majority stake and buyout of promoters/ARKFIN planned.
- ₹25 cr immediate infusion as ICD for clearing dues.
- New leadership team and board strengthening proposed.
- Term loan restructuring and moratorium on repayments sought.