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As of March 31, 2022, IIFL Finance’s home loan arm has assets under management of Rs 23,617 crore.New Delhi: A wholly-owned arm of Abu Dhabi Investment Authority (ADIA) will invest Rs 2,200 crore for a 20 per cent stake in IIFL Home Finance. “This would be one of the largest equity investments in the affordable housing finance segment in India by a financial investor,” IIFL Finance said.IIFL Home Finance is a subsidiary of IIFL Finance. “The deal is subject to regulatory approvals,” the non-bank lender added.The affordable housing finance company also said that it aims “to use the additional capital to continue its granular expansion strategy into new markets to address the significant and growing demand for housing loans.”Nirmal Jain, Founder, IIFL Group said, “We are delighted to partner with ADIA who bring to the table long term commitment and rich experience of supporting growing businesses. The investment recognizes IIFL Home Finance’s position as one of India’s largest providers of affordable housing loans and how well it is placed to continue to target the large, resilient housing finance market.”Shares of IIFL Finance surged as much as 8.42 per cent to hit an intraday high of Rs 356.70.As of March 31, 2022, IIFL Finance’s home loan arm has assets under management of Rs 23,617 crore.Monu Ratra, CEO, IIFL Home Finance said, “IIFL Home Finance has built a strong foundation and is at an inflection point as it leverages new strategies such as co-lending, foraying into more granular products and expanding reach across Tier II and Tier III regions.”ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi.

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