India : WESTBRIDE CAPITAL acquires stake in APTUS VALUE HOUSING FINANCE.
An investment firm with offices in India, Mauritius and the United States, WestBridge Capital has acquired a 20 percent equity stake in Aptus Value Housing Finance, an Indian firm that aims to provide low-cost housing finance, mainly for middle-income, self-employed customer.
WestBridge Capital has bought the stake by investing a total of INR 98 crore (USD 16 million).
The company invested the money through the WestBridge Crossover Fund, which has made investments of USD 450 million in almost 20 companies since it was launched in 2011.
The proceeds will go towards expanding the company's loan portfolio.
Among the other stakeholders of Aptus are the India Financial Inclusion Fund and Granite Hill India, which jointly own a total of 30 percent of the firm.
The Managing Director of WestBridge Capital India Advisors, KP Balaraj, said : "Affordable housing finance is a very large market, and essential for broader financial inclusion. We believe Aptus with its very strong leadership and credit culture, will emerge as a market leader in this segment."
2014 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Jan 3, 2015|
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