City-based Aptus Value Housing Finance India Ltd., a company focused on funding affordable housing, has raised Rs.270 crore in fresh round of funding from a couple of existing equity investors, valuing the company at Rs.1,350 crore.
While a fund advised by WestBridge Capital Partners, LLC has brought in Rs.245 crore in fresh money, India Financial Inclusion Fund (IFIF), a fund advised by Caspian Impact Investment Advisers, infused Rs.25 crore. IFIF had invested Rs.30 crore in the company in 2012. WestBridge had pumped in Rs.100 crore into Aptus in 2014.
According to M. Anandan, who set up Aptus in 2010, the fresh round of funding comes even as IFC Washington cleared a Rs.100-crore rupee-denominated 7-year debt funding to Aptus. These together would keep the company in good stead in terms of its ability to access cost-effective growth funds for business expansion, he added.
Mr. Anandan’s holding in the company now stood at 32 per cent, with the three existing private equity investors together holding 60 per cent.
Aptus, he said, focussed on the under-served housing market of informal income customers (ticket sizes of Rs.5 lakh to Rs.15 lakh) especially in tier-II and -III cities. Aptus has 77 branches and more than 10,000 customers.
