Shubham Housing Development Finance Company announced an investment of ₹1,000 crores+ led by Multiples Private Equity with participation from existing investors, Asian Development Bank and British International Investment (BII).
The deal comprises of a primary issuance of ₹400 crore along with a secondary purchase from early investors. Multiples PE will hold a significant minority stake in the Company post the transaction.
The funds raised will be used to drive growth across its product offering and expand its footprint.
As part of the investment, Nithya Easwaran, Managing Director of Multiples, will join Shubham’s board.
Speaking on the occasion, Sanjay Chaturvedi, ED and CEO of Shubham said, “This is a significant milestone for the Company, and we are pleased to welcome aboard Multiples, an investor with an entrepreneurial DNA. As Shubham embarks on its next phase of growth, we will continue to deepen our footprint and help lakhs of households realize their dream of owning a house.”
Rupa Basu, ED of Shubham added, “This capital raise reflects our long-term strengths at Shubham, and we believe this investment by Multiples is a stamp of confidence for the underlying business model built over the years.”
Headquartered in Gurugram, India, Shubham started its journey in 2011 and has financed 1,00,000+ households to date. Shubham is an affordable housing finance lender that provides home loans to lower-income families and emerging consumers across India.
With assets under management exceeding ₹5000 crore, Shubham operates across 12 states via 160+ branches and 3,300+ employees. Along with a strong distribution network and cycle-tested underwriting capabilities to deliver credit solutions to this segment, Shubham has also invested in building a strong technologically integrated platform with advanced portfolio monitoring and data analytical capabilities.
