Dhyaani Tradeventtures Limited Receives Reclassification Req...
Source: scanx.trade
08 May 2026
star housing finance Limited disclosed on 08 May 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received a letter of intent from Bassinvictus Private Limited. The letter was addressed to the lenders of the company and outlines Bassinvictus's intention to infuse funds and acquire a controlling interest in the housing finance firm.
Proposed Equity Infusion and Stake Acquisition
Bassinvictus Private Limited has expressed its intent to infuse funds amounting to ₹200 crores into Star Housing Finance in the form of equity, subject to necessary statutory and regulatory approvals, in one or more tranches. The key parameters of the proposed transaction are summarised below:
Parameter: Details Investor: Bassinvictus Private Limited Proposed Equity Infusion: ₹200 crores Mode of Infusion: Equity (one or more tranches) Stake Acquisition: Majority stake Secondary Purchase: Promoters' stake and stake of ARKFIN Investment and Advisors Limited Immediate ICD Infusion (post lender concurrence): ₹25 crores
In addition to the primary equity infusion, Bassinvictus intends to acquire a majority stake and buy out the stake of the promoters and ARKFIN Investment and Advisors Limited, described as the single largest investor, through a secondary purchase, subject to all approvals being in place.
Conditions Precedent for Firm Commitment
The letter of intent is contingent upon the agreement of lenders to specific restructuring measures. Bassinvictus has stated that the letter of intent will be converted into a firm commitment document only after lenders agree to the following:
Restructure the term loan facilities by extending the balance tenor
Grant a moratorium on interest and principal repayments for the next six months
Upon receiving lender concurrence on these conditions, Bassinvictus Private Limited has indicated it would immediately infuse ₹25 crores into Star Housing Finance in the form of an Inter-Corporate Deposit (ICD). These funds are intended to be used primarily towards clearing pending dues of lenders and payment of statutory dues, if any.
Leadership and Board Strengthening
As part of its commitment, Bassinvictus Private Limited has stated its intention to bring in a new leadership team to rebuild a strong foundation and to strengthen the Board through the onboarding of reputed professionals from the BFSI and allied space. The company reiterated its intent to provide sustainable long-term returns to all stakeholders, subject to the concurrence of lenders and the conversion of the letter of intent into a firm commitment.
The disclosure was signed by Nachiketa Purohit, Company Secretary and Compliance Officer of Star Housing Finance Limited, on 08 May 2026.
Star Housing Finance Limited has announced that it has placed the appointment of external auditors on hold for conducting an audit related to the National Housing Bank (NHB) Snap Audit Report. The decision was communicated to BSE Limited through a regulatory filing under Regulation 30 of SEBI LODR Regulations on 1st May 2026.
External Audit Appointment Update
The company had previously shortlisted M/s. Parikh & Associates, Chartered Accountants, as independent auditors to conduct a comprehensive external audit in respect of the Snap Audit Report issued by the National Housing Bank. However, the appointment has been kept on hold as per the instructions of the Board of Directors and Management.
Parameter: Details Auditor Firm: M/s. Parikh & Associates, Chartered Accountants Audit Type: Comprehensive external audit Related to: NHB Snap Audit Report Current Status: Appointment on hold Decision Authority: Board of Directors and Management
Previous Communications
This update follows the company's earlier intimations under Regulation 30 of SEBI LODR regulations dated 3rd April 2026 and 14th April 2026. The company has indicated that further developments regarding the external audit appointment will be updated in due course.
Company's Clarification
Star Housing Finance Limited has emphasized that the matter under review remains at the stage of suspicion. The company specifically clarified that the existence of such irregularities has not yet been substantiated, maintaining transparency about the current status of the investigation.
Regulatory Compliance
The communication was signed by Nachiketa Purohit, Company Secretary & Compliance Officer (Mem. No. 25011), and was digitally signed on 1st May 2026. The filing ensures compliance with the disclosure requirements under SEBI LODR Regulations, keeping stakeholders informed about material developments affecting the company.
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Source: The Economic Times
