Debt

Debt financing

IFC to invest $75-M in Blackstone-owned affordable housing finance player Aadhar

Investor Disclosure  

The International Finance Corporation (IFC) is to make a 7-year senior debt investment of USD 75 million in Aadhar Housing Finance Ltd. The proceeds will be used to extend financing to retail buyers of affordable/green housing units. The project is expected to provide counter-cyclical support for the housing needs of lower income groups, who have been severely impacted by the disruptions caused by the Covid-19 pandemic. Mumbai-headquartered Aadhar is focused on the low income housing segment in India. The Blackstone Group holds 98.7% of the company. The company has an assets under management (AUM) of USD 1.9 Billion, an average ROAA of 3.2% annualized, gross NPA of 2.25% and capital adequacy of 44.7% in Dec-2021. It has 325 branches across 20 states.

From the Venture Intelligence PE-VC Deal Database: In Feb-19, Blackstone had acquired a majority stake in Aadhar Housing Finance. IFC has made equity investments in the company in 2010 and 2015. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)