Tag: Areion Group

Housing FinanceLatest Stories

Areion Seeks RBI Nod for ₹936 Crore Aviom India Acquisition

RBI MUMBAI: Areion Group has formally requested approval from the Reserve Bank of India (RBI) for its planned ₹936-crore acquisition of the troubled mortgage lender Aviom India Housing Finance. Sources indicate that the regulator’s ‘fit-and-proper’ assessment will likely include a detailed investigation beyond just commercial aspects. The RBI is expected to carefully examine the source of funds, governance history, and ownership structure of Areion Group’s proposed takeover, announced four months ago, as part of its fit-and-proper review, according to the aforementioned sources. “The regulator’s priority will be to trace the origin of the funds and verify that the acquisition is…

Housing FinanceLatest Stories

Areion Group Secures ₹936-Crore Bid for Aviom India Housing

MUMBAI: Areion Group has successfully secured the bid for Aviom India Housing Finance, a mortgage lender embroiled in fraud issues, after secured lenders unanimously favored its resolution proposal over a higher but conditional offer from Unity Small Finance Bank, according to sources familiar with the situation. Areion’s ₹936-crore bid is projected to enable a recovery of around 65% for Aviom’s lenders. Despite Unity Small Finance Bank initially offering the highest bid of ₹977.5 crore during the competitive auction, secured lenders supported Areion Group’s unconditional proposal. The preference was influenced by Unity’s conditional offer, which raised concerns about execution, as confirmed…