Debt

Debt financing

Affordable housing finance co Sitara secures Rs.120-Cr from UK's BII

Business Line  

Delhi-headquartered affordable housing finance firm Sitara has secured INR 120 crore in debt from UK's development finance institution British International Investment (BII). The firm will use the funds to grow its loan book and expand operations to new locations. Founded in 2015, Sitara, which is owned by Sewa Grih Rin, is a housing finance company registered with the National Housing Bank. Sitara's operations include providing loans in the range of INR 50,000 to 30,00,000 for house construction, extension, purchase, and renovation. The company currently operates through a network of 75 branches across 9 states.