News Tech: Abu Dhabi Investment Authority (ADIA) invests Rs 2,200 in a 20% stake in IIFL Home Finance, which manages assets worth Rs 23,617 at the end of March. The deal he signed with IIFL Finance, the parent company of his IIFL Homes Sovereign Wealth Fund, is one of his largest investments in the affordable housing segment in India. In an exclusive interview with Moneycontrol, IIFL Group founder Nirmal Jain said ADIA’s investment will penetrate deep into the affordable housing segment and help the underserved Tier 4 or Tier 5 market. said to be used to target.
Industry-level mortgage rates could rise another 75 to 100 basis points, assuming the Reserve Bank of India rate hike cycle continues for some time, Jain said. He also spoke about how the merger of the Housing Development Finance Corporation (HDFC) and his HDFC Bank will affect smaller mortgage lenders. IIFL Home Finance is growing at a good pace the market opportunity is huge as there are not too many players in the affordable home finance segment.
There are many areas where we need to dig deeper. Home Finance currently operates in 230 cities across India. When we say new markets, we mean that we want to target underserved markets in Tier 4 or Tier 5 cities. We will delve deeper into these markets. We currently have 230 offices in 16 states and 2 federal territories. We will continue to expand the number of branches.