NewsVoir
Mumbai (Maharashtra) [India], January 29: Aditya Birla Housing Finance Limited ("ABHFL"), a wholly owned subsidiary of Aditya Birla Capital, India's leading, diversified financial services company, announced that it has secured an investment of Rs 830 Crore through Non-Convertible Debentures (NCDs), from the International Finance Corporation (IFC).
The funds raised through IFC's investment will be utilised to address critical gaps by providing housing loans to low-income and middle-income groups (LIG and MIG), with a particular focus on encouraging homeownership among women. A portion will also be allocated to supporting MSMEs, especially women-led enterprises, to drive growth and economic progress. This investment aims to enhance financial inclusion, uplift underserved communities in the affordable housing and MSME sectors.
Pankaj Gadgil, MD & CEO, Aditya Birla Housing Finance Limited, said, "This collaboration with IFC marks a key milestone in advancing financial inclusion and equitable growth. At Aditya Birla Housing Finance, we are committed to delivering inclusive home financing solutions that ensure a truly happy home loan journey. This initiative empowers underserved communities, particularly women borrowers, while supporting MSMEs to foster entrepreneurial growth and economic empowerment. By combining IFC's global expertise with our vision, we aim to make homeownership accessible, drive progress, and build a sustainable financial ecosystem in India."
Wendy Werner, Country Head, India and Maldives, IFC, said, "A dynamic housing sector and improved financial access for MSMEs, are essential for India's sustainable development. Through our partnership with Aditya Birla Housing Finance, we aim to expand affordable housing finance and enable more women to become businessowners. The private sector is crucial in driving growth of housing and MSME sectors, and our collaboration with leading players focuses on enhancing financing opportunities for women in the wider financial ecosystem - key to fostering long-term progress and advancing economic inclusion."
Aditya Birla Housing Finance is committed to creating transformative solutions that not only address current challenges but also paves the way for a more equitable and sustainable financial ecosystem in the country.
Aditya Birla Housing Finance Limited ("ABHFL"), a subsidiary of Aditya Birla Capital Limited is a fast-growing housing finance company ("HFC") in India. ABHFL is registered with the National Housing Board (NHB) as a non-deposit accepting housing finance company and commenced operations in October 2014. As of September 30, 2024, ABHFL manages assets under management of over Rs. 23,236 Crore. ABHFL has significantly expanded its footprint to 150 branches as of September 30, 2024. This is reflected in its long-term credit rating of AAA (Stable) by CRISIL, ICRA & India Ratings, and short-term credit rating of A1+ by CRISIL, ICRA & India Ratings.
Aditya Birla Capital Limited ("ABCL") is a registered Core Investment Company ("CIC') and the holding company of the financial services businesses. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 55,000 employees, the businesses of ABCL have a nationwide reach with over 1,470 branches and more than 200,000 agents/channel partners along with several bank partners. As of September 30, 2024, Aditya Birla Capital Limited manages aggregate assets under management of over Rs. 5.0 Lakh Crore with a consolidated lending book of Rs 1.38 Lakh Crore through its subsidiaries/JVs.
Aditya Birla Capital Limited is a part of the US$66 billion global conglomerate Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 187,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group's businesses have grown into global powerhouses in a wide range of sectors - from metals to cement, fashion to financial services and textiles to trading. Today, over 50% of the Group's revenues flow from overseas operations that span over 40 countries in North and South America, Africa, Asia, and Europe. For more information, visit www.adityabirlacapital.com
IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org. Stay Connected with IFC on social media.
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