Shubham Housing Development Finance Company Limited (Shubham), a leading player in affordable housing finance, has achieved a major funding milestone, raising over INR 1,000 crore in a round led by Multiples Private Equity.
The investment marks a new chapter for Shubham as it strengthens its position in India’s financial services sector and expands its reach to underserved and unserved populations.
Key Highlights of the Funding Round
- INR 400 crore raised as primary issuance.
- Secondary share purchase from early investors, with Multiples Private Equity acquiring a significant minority stake.
- Continued support from existing investors, including the Asian Development Bank (ADB) and British International Investment (BII).
- Avendus acted as the exclusive financial advisor for the transaction.
Boosting Growth and Expansion
The funds will accelerate Shubham’s growth by:
- Diversifying its product portfolio.
- Strengthening its national footprint.
- Enhancing its technological capabilities to better serve its customer base.
Bridging the Credit Access Gap
Founded in 2011 by Sanjay Chaturvedi and Rupa Basu, Shubham has been a pioneer in providing formal credit access to underserved communities. The company has:
- Financed over 1,00,000 households.
- Achieved assets under management (AUM) exceeding INR 50 billion.
- Established a presence in 12 states with over 160 branches and a team of 3,300+ professionals.
Shubham’s technologically advanced underwriting platform has been a key driver of its success, enabling efficient and accurate credit assessments.
Leadership Insights
Sanjay Chaturvedi, Executive Director and CEO of Shubham, stated:
“This is a significant milestone for the company, and we are pleased to welcome Multiples, an investor with entrepreneurial DNA. As Shubham embarks on its next phase of growth, we will continue to deepen our footprint and help lakhs of households realise their dream of owning a house.”
Rupa Basu, Executive Director, added:
“This capital raise reflects our long-term strengths at Shubham. We believe this investment by Multiples is a stamp of confidence in the underlying business model built over the years.”
Backing High-Quality Opportunities
As part of the deal, Nithya Easwaran, Managing Director at Multiples, will join Shubham’s board. She commented:
“Our investment in Shubham underscores our commitment to backing high-quality opportunities in India’s financial services sector. We are excited to partner with Sanjay and Rupa in scaling Shubham’s reach while maintaining a strong focus on asset quality and micro-market expertise.”
Note: We are also on WhatsApp, LinkedIn, and YouTube, to get the latest news updates, Join our Channels. WhatsApp– Click here, and for LinkedIn– Click Here