DHFL Parent WGC sells its loan distribution biz to metdist group
Wadhawan Global Capital (WGC), the parent of cash-strapped Dewan Housing Finance Corp. Ltd (DHFL), is selling its loan distribution business Andromeda Sales and Distribution Pvt. Ltd to London-based metal trading firm, Metdist Group of companies for close to ₹150 crore, two people aware of the development told Mint, seeking anonymity.
The sale of Andromeda is part of WGC’s attempts to raise capital to meet debt obligations at the group’s flagship company DHFL.
