Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Shubham Housing Development Finance Company Limited (Shubham) announced an impressive investment milestone, raising over INR 1000 crore in a funding round led by Multiples Private Equity.
The round also witnessed participation from existing investors, including the Asian Development Bank (ADB) and British International Investment (BII). The deal comprises INR 400 crore as primary issuance and a secondary purchase of shares from early investors, with Multiples acquiring a significant minority stake.
Avendus acted as the exclusive financial advisor for the transaction, emphasizing Shubham's growing appeal in India's financial services sector.
The raised funds will propel the company's growth trajectory, diversifying its product offerings and strengthening its national footprint.
Headquartered in Gurugram, Shubham was founded in 2011 and promoted by Sanjay Chaturvedi and Rupa Basu to bridge the gap in formal credit access for underserved and unserved populations. The company claims to have financed over 1,00,000 households and boasts assets under management exceeding INR 50 billion.
Operating across 12 states through 160+ branches and employing 3,300+ professionals, Shubham's technologically integrated platform is a critical enabler of its robust underwriting capabilities.
Sanjay Chaturvedi, Executive Director and CEO of Shubham, shared, "This is a significant milestone for the Company, and we are pleased to welcome Multiples, an investor with BIZ Experiencesial 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 of Shubham, added, "This capital raise reflects our long-term strengths at Shubham, and we believe this investment by Multiples is a stamp of confidence for the underlying business model built over the years."
As part of the deal, Nithya Easwaran, Managing Director at Multiples, will join Shubham's board. She remarked, "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."
