Abu Dhabi to invest Rs 2,200 crore in IIFL Home Finance | Abu Dhabi ADIA to buy 20% in IIFL Home Finance

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IIFL Accounting

IIFL Home Finance, a subsidiary of IIFL Finance, has said it intends to use the extra capital to meet growing home loan business demand and enter new markets, as market forecasts suggest that real estate sales in India will fall due to rising interest rates.

Rs 52,000 crore loan business

Rs 52,000 crore loan business

IIFL Accounting has a credit turnover of about Rs 52,000 crore and a market capitalization of Rs 12,500 crore. This investment can not only increase the business of the company but also increase the market value.

IIFL Home Accounting

IIFL Home Accounting

IIFL Home Finance, meanwhile, has a credit worth Rs 24,000 crore and a market cap of Rs 11,000 crore. The Abu Dhabi Investment Authority (ADIA) has decided to buy a 20% stake in the company for around Rs 2,200 crore.

7.57 percent increase

7.57 percent increase

Shares of IIFL Finance rose 7.57 per cent to Rs 353.90 in Friday’s trade. While confirming the agreement, Nirmal Jain, Chairman, IIFL Group, said ADIA offers a long-term commitment and rich experience in supporting emerging businesses.

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230 branches

230 branches

IIFL Home Finance has 168,000 customers with 230 branches in India. The company also offers small home loans, anti-property loans and construction finance.

 Green buildings

Green buildings

It also promotes the construction of affordable greenhouses with home developers and experts through the Kutumb platform, which was created to reduce carbon emissions and provide low-cost structures.