IndoStar gains approvals to sell Niwas Housing Finance for $203.7m

It secured an NOC from the National Housing Bank.

India’s National Housing Bank (NHB) has issued a no due certificate (NOC) for the proposed acquisition of Niwas Housing Finance Private Limited to WITKOPEEND B.V., a private equity investor.

WITKOPEEND B.V. will now proceed to acquire 100% of the share capital of Niwas currently held by IndoStar Capital Finance Limited for INR17.5b (US$203.7m).

An NOC is a legal document that certifies that a company has cleared all their dues, and that they have no outstanding balance toward a loan.

The sale had earlier obtained approval from the Reserve Bank of India (RBI) on 21 March 2025.

Niwas is a Mumbai-headquartered finance company that offers home loans to individuals.

NHB is a regulatory body for overall regulation and licensing of housing finance companies in India.

WITKOPEEND B.V. is an affiliate of the Baring Private Equity Asia EQT Mid-Market Growth Partnership, a global private equity investor.