Private equity company Blackstone is the only bidder to have made an all-cash offer to buy PNB Housing Finance, The Economic Times reported.
The company is likely to shortlist seven investors in the first round by this weekend, the report said citing two sources with direct knowledge of the matter.
Blackstone, with heavy investments in commercial real estate, sees synergies in the housing finance space and wants to expand into the retail segment by investing in PNB Housing Finance, according to the report.
The list of suitors for the housing finance company who submitted their initial bids, included Godrej, Bandhan Bank, Dewan Housing Finance and a consortium led by GIC of Singapore and Blackstone, a Times of India report had earlier said.
First Published: IST