Aditya Birla Housing Finance Ltd, a subsidiary of Aditya Birla Capital, has successfully raised ₹830 crore through Non-Convertible Debentures (NCDs) from the International Finance Corporation (IFC). The aim of this investment is to promote financial inclusion and support underserved communities in the affordable housing and MSME sectors.
The funds raised from IFC will be utilized to provide housing loans to low-income and middle-income groups, with a focus on promoting home ownership among women. Additionally, a portion of the funds will be allocated to support MSMEs, particularly those led by women, to drive growth and economic development.
Pankaj Gadgil, MD & CEO of ABHFL, expressed his satisfaction with the collaboration with IFC, highlighting its significance in promoting financial inclusion and equitable growth. He emphasized the empowerment of underserved communities, especially women borrowers, and the support provided to MSMEs to enhance entrepreneurial growth and economic empowerment.
Wendy Werner, Country Head of IFC for India and Maldives, stressed the importance of a dynamic housing sector and improved financial access for MSMEs in India’s sustainable development. She mentioned that the partnership with Aditya Birla Housing Finance aims to expand affordable housing finance and enable more women to start their own businesses, contributing to long-term progress and economic inclusion.
As of September-end 2024, ABHFL had a loan book of ₹23,236 crore, with affordable housing loans accounting for a significant portion. Disbursements in the second quarter increased substantially year-on-year, indicating strong growth in the company’s operations.
Overall, the investment from IFC is expected to have a positive impact on the affordable housing and MSME sectors in India, promoting financial inclusion and economic development in the country.