Abu Dabhi Investment Authority has agreed to pay 2,200 crore to acquire 20% stake in IIFL Home Finance Limited, one of the largest equity investments in the affordable housing finance segment in India.
IIFL Home Finance Limited In an exchange filing on Thursday evening, it said it will use the additional capital to continue its expansion strategy in new markets to meet the critical and growing demand for housing loans.
Hamad Shahwan Aldhaheri, Executive Director, Department of Private Equity, said, “This investment is intended to support the company for its next phase of growth, as it faces significant demand in India’s large, under-served and rapidly growing affordable housing finance market. fulfills.” ADIA,
Established in 2006 as a wholly owned subsidiary of IIFL Finance, IIFL Home Finance has reported assets under the management of 23,617 crore till March 31, 2022.
“We are delighted to partner with ADIA who bring a long-term commitment and rich experience to support growing businesses. This investment recognizes IIFL Home Finance’s position as one of India’s largest providers of affordable housing loans. and how well it continues to target the large, resilient housing finance market.” Nirmal JainFounder of IIFL Group said.
Monu Ratra, CEO, IIFL Home Finance said.
Avendus Capital and IIFL Securities were the financial advisors to IIFL Home Finance for this transaction.