PE Fund Investments
Affordable home loans lender Shubham Housing raises Rs.1,000-Cr from Multiples PE, others
Gurugram-headquartered Shubham Housing Development Finance has raised INR 1,000 crore (around USD 118 million) in a round led by Multiples Private Equity. Existing investors Asian Development Bank (ADB) and British International Investment (BII) also participated in the round. The deal comprises a primary issuance of INR 400 crore along with a secondary purchase from early investors.Multiples will hold a significant minority stake in the company post-transaction. Multiples' managing director Nithya Easwaran, will join the company's board.The company, an affordable housing finance lender that provides home loans to lower-income families and emerging consumers across the country, will use the funds to drive growth across its product offerings and expand its footprint.The company claims to have financed the purchase of over 1 lakh houses so far, and its assets under management stand at over INR 5,000 crore. It operates in 12 states through 160 branches and employs over 3,300 people.Avendus acted as the exclusive financial advisor to Shubham and its shareholders on this transaction.
Between Aug 2010 and Jun 2022, Shubham Housing Development Finance had raised about USD 189.77 M from ADB, British International Investment, LeapFrog, Elevar Equity, Helion Ventures, Quona Capital, Saama Capital, Motilal Oswal Alternates and PremjiInvest.For FY24, Shubham Housing Development Finance had reported about INR 603.27 Cr in Operating Income and about INR 135.97 Cr in PAT.
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