Indiabulls Housing Finance Limited (BSE:535789) is looking for a new strategic investor to anchor the company after founder and promoter Sameer Gehlaut reduced his stake below 10% last week even as the company plans to restructure its business by launching two credit funds, which will undertake risky developer loans and de-risk the company from the volatilities of wholesale lending. Chief executive Gagan Banga said the company will get an enabling resolution to give a board seat to any significant financial shareholder in the company, which could in the next few months translate into a strategic stake. Another attempt at getting a banking licence is also an option as the company will now be controlled by a diversified set of investors with no links to any group, he said. Last week, Gehlaut reduced his stake to 9.8% from 21.69% through a block deal, which was subscribed among others by US private equity giant Blackstone, sovereign wealth fund Abu Dhabi Investment Authority (ADIA), HSBC and local mutual funds Invesco and Quant Capital. "By just doing this small thing of us not being part of any group and not having an identifiable promoter has opened up infinite possibilities for us. we can now work towards getting a strong strategic promoter. We are talking to a few large institutional investors for a strategic stake," Banga said. He acknowledged that Blackstone could be a part of the discussions but said talks are ongoing with a bunch of investors.