BCP Asia Seeks CCI Nod for 80.15% Stake Acquisition in Aadhar Housing Finance

New Delhi, Sep 24, 2025 – BCP Asia II Holdco VII Pte. Ltd., an affiliate of Blackstone Inc., has filed with the Competition Commission of India (CCI) requesting clearance of the proposed acquisition of a maximum of an 80.15% stake of Aadhar Housing Finance Limited (AHFL).

Transaction Overview

The deal structure entails a secondary acquisition and an open offer to corporate holders of AHFL. Notably, the acquisition will not constitute a change of control as Blackstone Inc. will still retain ultimate control of AHFL both before and after the acquisition. AHFL’s operational management and board of directors also remain unchanged.

Parties Involved

• BCP Asia II Holdco VII Pte. Ltd. (Acquirer): An investment holding company of funds advised and managed by Blackstone affiliates.
• Aadhar Housing Finance Limited (Target): Large housing financing firm of India providing home loans as a key offering besides housing finance and loans against property. AHFL has also obtained a corporate agent license with IRDAI and offers life and general insurance products.

Market Considerations

The filing outlines possible intersections along the following markets:

• Loan and Lending Facilities Available in India
  • Retail loans segment
• Insurance products distribution in India
  • Life insurance coverage
  • General insurance distribution

The parties confirmed that neither of their business operations has any vertical or complementary relationships.

REF: https://www.cci.gov.in/images/summaryorders/en/summary1758625124.pdf

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