PE Fund Investments
Affordable housing lender Shubham raises $112-M led by UK's BII, LeapFrog, others
Gurgaon-based Shubham Housing Development Finance Co Ltd, which provides home loans to lower income families and emerging consumers across India, has raised USD 112 million in an investment round led by British International Investment or BII (formerly CDC Group), LeapFrog Investments, Asian Development Bank (ADB) and Premji Invest (via PI Opportunities Fund – I Scheme II). As part of the transaction, BII, LeapFrog, ADB, Premji Invest will infuse USD 78 million (INR 600 crore) primary capital in the business. LeapFrog and Premji Invest will also acquire the complete stake of Elevar Equity and a partial stake from Motilal Oswal PE. Nomura Financial Advisory and Securities (India) Pvt Ltd was the exclusive financial advisor to Shubham and its selling shareholders. Shubham has assets under management (AUM) exceeding INR 2,410 crore with a presence across 9 states via 100 branches as of March 22.
From the Venture Intelligence PE-VC Deal Database: Between Aug-2010 and Jan-2010, Shubham had raised over USD 77 M from Quona Capital, Elevar Equity, Saama Capital, Helion Ventures and PremjiInvest. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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