Centrum ropes in EY to find buyers for its stake in housing arm

The Jaspal Bindra-led group plans to either exit the housing finance business fully or pare stake to become a minority shareholder. "If we get a good value, we can look at divesting the business or monetise it," Bindra told ET. "It's still at an exploratory stage. We have told EY to look at the various options." Centrum holds about 60% in the mortgage lending arm while Morgan Stanley has 25% interest. The balance is held by employees and other investors.