Dewan housing finance limited has decided to buy Andromeda’s loan distribution , mortgage , financing and financial instruments business. Mumbai based holding company CASA holding holds 80% of Andromeda’s stake . The total deal value will be amounted somewhere between 200 and 250 crores.
Altamount capital is advising CASA capital for the deal . The deal comes 4 years after Malaysians capital fund Navis Capital sold Andromeda for Rs 180 crore to CASA capital holding. Andromeda currently operates in 16 cities across India and has disbursed loans worth more than Rs 5000 crores.
Andromeda is facing tough competition from competitors like Bank Bazar and Loan adda. These two banking and financial platform boasts more than 9 million visitors per month and offer more than 11 financial products with a collaboration of 40 banking partners