The proposed project is a senior secured loan (or INR bond) of up to US$100 million equivalent to a new client, IIFL Home Finance Limited (the Company), for a tenor of up to 6 years. The Project will involve proceeds being used to promote affordable housing for women borrowers from Economically Weaker Sections and Low Income Groups segments. Discussions are also underway for part of the proceeds to be used for financing retail purchases of green affordable housing. The Company is in the process of discussing an Advisory project to help develop its green affordable housing business.
IIFL HF was established by IIFL Finance Limited which holds 79.6% and acts as the promoter of the Company. In Aug-22, Abu Dhabi Investment Authority, a sovereign wealth fund owned by the Government of the Emirate of Abu Dhabi, UAE, acquired 20.4% stake in the Company. The Promoter, IIFL Finance, is owned by Nirmal Jain and his family that hold 24.90% in IIFL Finance. IIFL Finance is listed with market capitalization of US$ 2.4bn and 75.1% of the shares are floating, out of which 22.3% are owned by Fairfax Holdings.
IIFL Home Finance is headquartered in Gurugram, Haryana and has 363 branches spread across 18 states of India.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Fairfax India Holding Corporation||Investor||-|
|-||-||-||-||IIFL Finance Ltd||Parent Company||Finance|
|-||-||-||-||IIFL Home Finance Limited||Client||Finance|
Borrower - IIFL Home Finance Limited:
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