Wipro chairman Azim Premji’s Premji Invest in a bid to show his interest in housing sector has brought a great deal of stake in Shubham Housing Development Finance. Premji Invest is the family investment arm of Wipro.
As per couple of known’s of the deal said that Premji Invest using primary and secondary deal has put Rs. 305 Crore in the company. Premji Investment partner Rahul Garg too confirmed the deal.
With the Indian government’s aim of providing housing to everyone, Shubham Housing Development Finance which provides loan for low-cost housing solutions, the company can play a major role. With Azim Premji’s involvement the company is poised to grow quicker now. With 90-branches across the country, the company is poised to grow faster with Premiji’s involvement.
Rapid growth ahead after the investment: Sanjay Chaturvedi
CEO of the company, Sanjay Chaturvedi told ET that with the help of the investment the company will get public-listed in 2021-22. "We should be poised to go for public listing during 2021-2022 as we will leverage this new investment by Premji Invest for rapid growth," Chaturvedi told ET.
The company was formed in 2011 with an aim to help the lower middle-class families a housing solutions. They have already helped around 26,000 households for affordable housing in 12 states’s tier 1, tier 2 and tier 3 cities.
Government's Housing for all scheme which they have targeted to complete by 2022, a number of financial companies are willing to support the purchase of new houses. Shubham Housing Development Finance can play a massive role in the sector.
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