Star Housing Finance Ltd received a Letter of Intent from Bassinvictus Private Ltd for a ₹200 crore equity infusion to acquire a majority stake.
The investment is contingent on lenders agreeing to restructure term loans by extending tenor and granting a six-month moratorium on repayments.
Bassinvictus will immediately infuse ₹25 crore via ICD to clear pending lender dues and statutory payments upon lender concurrence.
The investor plans to bring a new leadership team and strengthen the board with BFSI professionals to rebuild the company.