Aditya Birla Housing Finance ( ABHFL ), a wholly owned subsidiary of Indian financial services provider Aditya Birla Capital, has secured an investment of 8.30 billion rupees ( US$95.70 million ) through non-convertible debentures ( NCDs ) from the International Finance Corporation ( IFC ).

The funds raised through the IFC investment, announced on January 29, will be used to address critical gaps by providing housing loans to low-income and middle-income groups, with a particular focus on encouraging home ownership among women. A portion of the funds will also be allocated to supporting micro, small and medium-sized enterprises ( MSMEs ), especially women-led enterprises, to drive growth and economic progress. This investment aims to enhance financial inclusion and uplift underserved communities in the affordable housing and MSME sectors.

ABHFL managing director and chief executive officer Pankaj Gadgil says the collaboration with IFC marks a key milestone in advancing financial inclusion and equitable growth. “We are committed to delivering inclusive home financing solutions that ensure a truly happy home loan journey,” he points out. “This initiative empowers underserved communities, particularly women borrowers, while supporting MSMEs to foster entrepreneurial growth and economic empowerment. By combining IFC’s global expertise with our vision, we aim to make homeownership accessible, drive progress, and build a sustainable financial ecosystem in India.”

IFC country head for India and Maldives Wendy Werner stresses that 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 says. “The private sector is crucial in driving growth of housing and MSME sectors, and our collaboration with leading players focuses on enhancing financing opportunities for women in the wider financial ecosystem – key to fostering long-term progress and advancing economic inclusion.”

ABHFL is a fast-growing housing finance company in India. As of September 30 2024, it had 150 branches and assets under management of over 232.36 billion rupees.