Mumbai, Mortgage lender Vastu Housing Finance on Friday said it plans to borrow up to USD 50 million in a 20-year loan from the US International Development Finance Corporation.
According to an official statement, an agreement for external commercial borrowings was signed between the two entities.
The funds raised through this route will be deployed to focus on increasing credit access for low-income borrowers, addressing housing needs and encouraging home ownership among women in tier II to IV cities across India .
The lender focuses on affordable housing finance for low-income and self-employed sectors, with an emphasis on supporting women borrowers.
With assets under management of US$1.14 billion, Vaastu, launched in 2015, is present in 14 states and employs over 4,500 people.
Multiples Private Equity, led by Renuka Ramnath, started with seed capital from Pramod Bhasin, Sameer Bhatia and Vikram Gandhi, drawing on investors like International Finance Corporation (IFC), Northwest Venture Partners, Creation Investments, 360 One Asset Management Ltd, T.A. Trusts. Associates and Fairing Capital as shareholders.
According to an official statement, an agreement for external commercial borrowings was signed between the two entities.
The funds raised through this route will be deployed to focus on increasing credit access for low-income borrowers, addressing housing needs and encouraging home ownership among women in tier II to IV cities across India .
The lender focuses on affordable housing finance for low-income and self-employed sectors, with an emphasis on supporting women borrowers.
With assets under management of US$1.14 billion, Vaastu, launched in 2015, is present in 14 states and employs over 4,500 people.
Multiples Private Equity, led by Renuka Ramnath, started with seed capital from Pramod Bhasin, Sameer Bhatia and Vikram Gandhi, drawing on investors like International Finance Corporation (IFC), Northwest Venture Partners, Creation Investments, 360 One Asset Management Ltd, T.A. Trusts. Associates and Fairing Capital as shareholders.
