-
ALSO READ
NHB directs bigger housing finance firms to appoint chief risk officer
Piramal Capital & Housing to raise $150 million from IFC
Banks may take majority stake in DHFL, convert part of debt into equity
NHB's new rules for HFCs will force many to revisit plot they occupy now
Micro housing finance companies choke on acute fund crunch post DHFL crisis
-
Aptus Value Housing Finance (Aptus), the Chennai-based affordable housing finance company, has raised Rs 880 crore in equity. The funding round was led by existing investor WestBridge, with new investors Steadview Capital and Sequoia Capital and existing investor Malabar Investments participating.
The current round of capital raise was at a valuation of Rs 5,080 crore.
Founder M Anandan said that the company is well capitalised to build on the strong base and expects to grow its loan book at over 60 per cent in the next three years.
In the past 10 years, Aptus has built a franchise in affordable housing finance with a loan book of over Rs 2,650 crore, which grew over 60 per cent in the past five years.
The company, which provides home loans, improvement loans, and business loans to the underserved self-employed customers, has disbursed over Rs 3,500 crore worth of loans, with a presence in semi-urban and rural areas. The company has over 40,000 customers being serviced through its 165 branches in four South Indian states.
Aptus expects to continue to maintain its growth, penetrate deeper into its home market in the south, and plans to foray into adjacent states in the years ahead. It targets to achieve a loan book of Rs 9,000 crore by end of financial year 2022.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor





RECOMMENDED FOR YOU