His resignation follows these of Girish Kousgi as MD, PNB Housing Finance. He stepped down on July 31. Monu Ratra, MD, IIFL Dwelling Finance, has additionally resigned and can exit the chief function on October 6.
Trade watchers mentioned that the outgoing leaders had been instrumental in scaling companies, enhancing asset high quality, and including new enterprise verticals, and that their exits might dent the house financiers.
Jaiswal is predicted to proceed as CEO till the tip of this month, after which he’ll function an advisor to the board for 2 to 3 months. A brand new CEO with experience in inexpensive housing is more likely to take part September, sources mentioned.
TPG Group, which acquired Grihum Housing Finance from Poonawalla Fincorp in July 2023, holds a 98.33% stake within the firm. The mortgage lender presently has property below administration of over ₹9,000 crore.
In the meantime, PNB Housing Finance has mentioned it would contemplate each inside and exterior candidates to switch Kousgi, who led the corporate for greater than three years. Kousgi mentioned he was pursuing alternatives outdoors the organisation. The mortgage lender had property below administration of ₹82,100 crore on the finish of June 2025.”After Sanjay Gupta, who was with the corporate for a decade, PNB Housing Finance will now be appointing its fourth MD and CEO (together with an interim CEO) to succeed Kousgi. The board should discover a appropriate successor with classic and longevity to steer the franchise,” mentioned Abhijit Tibrewal, analysis analyst at Motilal Oswal. “Appointment of a brand new CEO, ideally from the trade, will likely be pivotal as the corporate requires seasoned management with deep experience to construct on the continued transformation.”IIFL Dwelling Finance, on its half, mentioned that Monu Ratra had additionally resigned. His resignation turns into efficient from October 6. The lender had property below administration of ₹37,098 crore on the finish of September 30, 2024.