PE Fund Investments
ADIA picks up 20% stake in IIFL Home Finance for Rs.2,200-Cr
Affordable housing finance company IIFL Home Finance Ltd, a wholly-owned subsidiary of publicly listed, Mumbai-based non-banking financial company (NBFC) IIFL Finance Ltd, is raising INR 2,200 crore of primary capital for a 20% stake from Abu Dhabi Investment Authority (ADIA). Avendus Capital and IIFL Securities were the financial advisors to IIFL Home Finance for this transaction. IIFL Home Finance plans to use the additional capital to continue its granular expansion strategy into new markets to address the significant demand for housing loans. IIFL Home Finance has an AUM of INR 23,617 crore as of March 31, 2022, with 168,000 customers across 16 states and 2 union territories with over 200 branches backed by over 3,200 employees.
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