Star Housing Finance Limited has announced the execution of a Letter of Intent (LOI) by certain promoters and shareholders to acquire a significant stake in the company. The proposed acquirer, Cateye Consultancy Services Private Limited, intends to purchase 2,64,78,962 equity shares, representing 33.52% of the paid-up equity share capital. The transaction is subject to due diligence, price negotiation, and definitive agreements.
Potential Share Acquisition Announced
Star Housing Finance Limited has disclosed the execution of a Letter of Intent (LOI) dated July 16, 2026. The LOI was signed between certain promoters, members of the promoter group, and other shareholders (referred to as “Proposed Sellers”) and Cateye Consultancy Services Private Limited (the “Proposed Acquirer”). This intimation was received by the company on August 13, 2026.
Key Transaction Details
Under the terms of the LOI, the Proposed Acquirer has expressed its intention to acquire 2,64,78,962 equity shares of Star Housing Finance Limited. This block of shares constitutes approximately 33.52% of the company’s total paid-up equity share capital. The acquisition price is yet to be determined and will be subject to negotiation between the parties involved.
Transaction Conditions and Caveats
It is important to note that the Company itself is not a party to this LOI. The LOI is described as a preliminary, non-binding document. Its consummation is contingent upon several critical factors. These include, but are not limited to, the successful completion of due diligence by the Proposed Acquirer to its satisfaction, negotiation and agreement on the final share purchase price, and the execution of a definitive Share Purchase Agreement. Furthermore, compliance with relevant regulations, including the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and obtaining prior approval from the Reserve Bank of India as a housing finance company, are necessary prerequisites. The announcement explicitly states that there is no certainty that the proposed transaction will ultimately be completed.
List of Proposed Sellers
The individuals and entities involved as Proposed Sellers are detailed in Annexure A to this disclosure. The list includes a mix of individuals categorized as promoters or belonging to the promoter group, along with one entity classified as public:
Annexure A: List of Proposed Sellers
- Pushpa Nagda (Promoter Group)
- Ashish Jain (Promoter Group)
- Kavish Jain (Promoter Group)
- Surbhi Jain (Promoter Group)
- Vinita Sureshkumar Jain (Promoter Group)
- Kavish Jain (HUF) (Promoter Group)
- Ashish Jain (HUF) (Promoter Group)
- Dipesh Jain (Promoter Group)
- Jenisha Jain (Promoter Group)
- Manju Devi Jain (Promoter Group)
- Akme Build Estate Limited (Promoter Group)
- Akme Automobiles Private Limited (Promoter Group)
- Anil Kumar Jain (Promoter)
- Aarsh Fincon Limited (Promoter Group)
- Kailash Jain (Promoter Group)
- Vimal Jain (Promoter Group)
- Ravindra Jain (Promoter Group)
- Shilpa Jain (Promoter Group)
- Arkfin Investments and Advisors Private Limited (Public)
Source: BSE
