Aditya Birla Housing Finance Limited (ABHFL), a wholly owned subsidiary of Aditya Birla Capital, has raised Rs 830 crore in funding through Non-Convertible Debentures (NCDs) from the International Finance Corporation (IFC). This strategic investment is aimed at addressing critical gaps in the housing finance sector by extending housing loans to low-income and middle-income groups, with a special emphasis on promoting homeownership among women.
The funds raised will also support the growth of micro, small, and medium enterprises (MSMEs), particularly those led by women, thereby driving economic progress and fostering financial inclusion. This move is expected to uplift underserved communities by enhancing access to affordable housing and providing a much-needed boost to women-led enterprises.
The investment is set to create a significant impact on India’s sustainable development by strengthening the dynamic housing sector and improving financial access for MSMEs.
Wendy Werner, Country Head for India and Maldives at IFC echoed this sentiment, stating, "Through our partnership with Aditya Birla Housing Finance, we aim to expand affordable housing finance and enable more women to become business owners." This partnership highlights the importance of an inclusive approach to development, ensuring that critical sectors such as affordable housing and MSMEs receive the necessary support to thrive.
ABHFL, which commenced operations in October 2014 and is registered with the National Housing Board (NHB) as a non-deposit-accepting housing finance company, has consistently focused on bridging the financial gaps in the housing market. As of September 30, 2024, the company manages assets under management exceeding Rs 23,236 crore, underscoring its robust market presence and commitment to sustainable growth.
With the infusion of Rs 830 crore from IFC, ABHFL is well-positioned to further its mission of enhancing financial inclusion, particularly among low- and middle-income groups and women, while simultaneously supporting the growth of MSMEs. This funding not only strengthens ABHFL’s financial capabilities but also reaffirms its commitment to making homeownership accessible and promoting broader economic empowerment in the country.