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Premji Invest leads Rs 3.05 billion investment in Shubham Housing

Shubham, along with PE investors, has raised a debt of more than Rs 8 billion from a number of domestic and international players

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Despite the expected fiscal stimulus and higher government spending due to incremental revenues on account of the GST, the overall investment cycle is unlikely to revive.

BS Reporter

Last Updated : Jan 24 2018 | 11:21 PM IST

Premji Invest has taken the lead in investing Rs 3.05 billion in Shubham Housing Development Finance Company. The other investors that participated in the series D round investments are the company’s existing investors including Helion Venture Partners and Elevar Equity.

ACCION’s Frontier Investment Group and Saama Capital have exited from the company.

Shubham, along with PE investors, has raised a debt of more than Rs 8 billion from a number of domestic and international players.

Shubham is poised to grow its loan book from Rs 10 billion to more than Rs 60 billion in the next five years, said Sanjay Chaturvedi, chief executive officer, Shubham Housing Development Finance Company Rahul Garg, Partner, Premji Invest, will join the Shubham board.

“With an ever expanding presence, we plan to scale up through a combination of leveraging proprietary internal and external technologies and multiple partnerships across categories to ensure superior customer delivery and be among the top housing finance players in this space,” said, Ajay Oak, chief operating officer, Shubham Housing.