Aditya Birla housing finance partners with IFC for Rs 830 crore investment in housing sector

Aditya Birla Housing Finance Limited (ABHFL), a wholly owned subsidiary of Aditya Birla Capital, on Wednesday said it has raised Rs 830 crore in funding 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, with a particular focus on encouraging homeownership among women, the company said in a statement. A portion will also be allocated to supporting MSMEs (micro, small & medium enterprises), especially women-led enterprises, to drive growth and economic progress, it added.

This investment aims to enhance financial inclusion, and uplift underserved communities in the affordable housing and MSME sectors, the company said. "This collaboration with IFC marks a key milestone in advancing financial inclusion and equitable growth," said Pankaj Gadgil, MD & CEO of Aditya Birla Housing Finance Limited. 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 business owners," Werner said. 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.

(Except for the headline, nothing has been changed by All India News Network in the PTI copy.)